Question

Damaris will be working at the local pool over his ten-week summer break. His net pay will be $167.30 each week. He hopes to have enough money to purchase a new pair of shoes that cost $175 by the end of his break. What percent of his net pay does Damaris need to save each week to reach his goal? Round to the nearest hundredth. (2 points)
1.05%
10.46%
11.37%

Answer 1

Damaris needs to save 10.46% of his net pay each week to purchase the new pair of shoes by the end of his break.

Given:

• Net pay per week is $167.30
• Cost of new pair of shoes is $175
• Summer break is for 10 weeks

To find: The percentage of his net pay that Damaris needs to save each week to purchase the shoes by the end of his break

Let us assume that Damaris needs to save x% of his net pay each week to buy the shoes by the end of his break.

Then, savings per week is x% of $167.30, that is,

$\frac{x}{100}\times 167.30$

Then, his savings for 10 weeks is,

$10 \times \frac{x}{100}\times 167.30$

Since the summer break is for 10 weeks, Damaris' savings for the entire summer break is,

$10 \times \frac{x}{100}\times 167.30$

Damaris wants to buy the new pair of shoes by then end of the break. Then, his savings for the entire summer break should equal the cost of the new pair of shoes.

It is given that the cost of the new pair of shoes is $175.

Then, according to the problem,

$10 \times \frac{x}{100}\times 167.30 =175$

$x=\frac{175\times 100}{10\times167.30}$

$x=10.460251$

Rounding to the nearest hundredth, we have,

$x=10.46$

Thus, Damaris needs to save $10.46$% of his net pay each week to buy the shoes by the end of his break.

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