Question

After taxes, Olive brings home $2,800 per month. She has decided that she would like to set aside 15% of her income for savings. How much will Olive save each month?

Answer 1

Olive will save $420 each month.

Explanation:

This question can be solved using a rule of three.

Olive earns $2,800 a month. $2,800 is 100% = 1 of her earnings. She wants to save x, which is 15% = 0.15 of her income. How much is x?

2800 - 1

x - 0.15x

x = 2800*0.15 = $420

Olive will save $420 each month.