Question

Suppose the average yearly salary of an individual whose final degree is a master's is $47 thousand less than twice that of an individual whose final degree is a bachelor's. Combined, two people

with each of these educational attainments earn $115 tFind the average yearly salary of an individual with each of these final degrees.

Answer 1

Average yearly salaries:

Individual with master's degree: $61,000

Individual with bachelor's degree: $54,000

Explanation:

Let B be the average salary of the individual with a bachelor's degree and M be the average salary of the individual with a master's degree

We have the following equations:

M = 2B - 47000 (M is $47 thousand less than twice B)

Subtracting 2B on both sides gives

M - 2B = -47000

Dividing by -1 both sides,

-M + 2B = 47000 (1)

Combined salary is 115000

M + B = 115000 (2)

Adding equations (1) and (2) will eliminate M:

-M + 2B +M +B = 47000+115000

3B = 162000

Dividing by 3 on both sides,

B = 162000/3 = 54000

Using equation (2) we get M+54000=162000

M = 162000-54000 = 61000

We can verify these numbers are right by plugging these values into the first equation

Plugging B = 54000 into M = 2B - 47000 --> M = 2 x 54000 - 47000 -->

M = 108000-47000 = 61000

These are consistent with our computed values

Individual with master's degree has average salary $61,000

Individual with bachelor's degree has average salary $54,000