Question

Suppose the average yearly salary of an individual whose final degree is a masters is $49 thousand less than twice that of an individual whose final degree is a bachelors. Combined two people with each of the educational attainments earn $113 thousand

Answer 1

Masters = 59,000

Bachelors = 54,000

Explanation:

Given that:

individual whose final degree is a masters is $49 thousand less than twice that of an individual whose final degree is a bachelors

Let masters salary = m

Bachelors salary = b

m = 2b - 49000 - - - (1)

m + b = 113,000 - - - (2)

From (2)

m = 113,000 - b

Substitute m = 113,000 - b into (1)

113,000 - b = 2b - 49000

113000 + 49000 = 2b + b

162000 = 3b

b = 162000/3

b = $54000

Hence,

Masters salary :

m = 113,000 - b

m = 113,000 - 54,000

m = 59,000