Question

Explain each step to this question and show full working out to make sure the answer is correct: Amy, John, and Emily each earn the same monthly salary. Each month, Amy saves 20% of her salary and spends the rest of her salary. John spends 2/5 of his salary and saves the rest of his salary. The amount of salary Emily saves to the amount of salary she spends is 5:8. Workout who saves the most of their salary each month.

can you do this in 10 min or less, please

Answer 1

To compare who saves the most of their salary each month among Amy, John, and Emily, we need to calculate the amount of salary each person saves.

Let's assume that the monthly salary of each person is 'S'. Then we can calculate the amount saved by each person as follows:

Amy:

Amount saved = 20% of S = 0.2S

Amount spent = S - 0.2S = 0.8S

John:

Amount spent = 2/5 of S = (2/5)S

Amount saved = S - (2/5)S = (3/5)S

Emily:

Let's assume that Emily saves '5x' and spends '8x' of her monthly salary.

Then, according to the question, we have:

Amount saved = 5x

Amount spent = 8x

We know that the ratio of the amount saved to the amount spent is 5:8, so we can write:

Amount saved / Amount spent = 5/8

Substituting the values of amount saved and amount spent, we get:

5x / 8x = 5/8

5x = (5/8) x 8x

5x = 5x

Therefore, the ratio of amount saved to amount spent is equal to 5:8. This means that Emily saves 5/13 of her monthly salary and spends 8/13 of her monthly salary.

So, the amount saved by each person is:

Amy: 0.2S

John: (3/5)S

Emily: 5/13 of S

Now, we need to compare these amounts to find out who saves the most.

To compare these amounts, we can write them in terms of a common denominator:

Amy: 0.2S

John: (3/5)S = (0.6)S

Emily: (5/13)S = (0.3846)S (approx.)

Therefore, we see that John saves the most of his salary each month, followed by Amy and then Emily.

Working out:

Let's assume that each person earns $1000 per month.

Amy:

Amount saved = 20% of $1000 = $200

Amount spent = $800

John:

Amount spent = 2/5 of $1000 = $400

Amount saved = $1000 - $400 = $600

Emily:

Let's assume that Emily saves $5x and spends $8x of her monthly salary.

Then, we have:

Amount saved = $5x

Amount spent = $8x

We know that the ratio of the amount saved to the amount spent is 5:8, so we can write:

$5x / $8x = 5/8

Solving for x, we get:

x = 8/13

Substituting the value of x, we get:

Amount saved = $5 x (8/13) x $1000 = $384.62 (approx.)

Amount spent = $8 x (8/13) x $1000 = $615.38 (approx.)

Therefore, we see that John saves the most of his salary each month, followed by Amy and then Emily.