Maths Question

Question

The Dempsey Family saves 5% of their monthly take home pay for vacations. Last year, their family went to the coast and had a great time.  They spent their entire vacation saving of $1265,  What was the family's monthly take home pay?

Answer 1

Hi Ali

 

If the entire year's vacation savings was $1265, then each month's vacations savings was

 

1265/12 = $105.42  (rounded from 105.4166667)

 

This amount represents 5% of their monthly take home pay.

 

If x = monthly take home pay

 

.05x = monthly vacation savings

 

.05x = 105.42

 

x = 2108.33

 

Their monthly take home pay is $2,108.33