Question

You need new shoes for work which cost $70. You earn $400 net income each week, but have expenses totaling $380 each week. If you set aside the difference between your weekly income and expenses, how many weeks will it take you to save enough to buy the shoes?

Answer 1

• Net income=400
• Expenses=380

Amount earned per week=400-380=$20

Price of one shoe=70$

Total weeks

• 70/20
• 3.5

Minimum 4 weeks

Answer 2

4 weeks

Explanation:

Given:

• $400 = weekly net income
• $380 = weekly expenses

Therefore,

Weekly surplus = weekly net income - weekly expenses

= $400 - $380

= $20

Given:

• Cost of new shoes = $70
• Weekly surplus = $20

Number of weeks = cost of new shoes ÷ weekly surplus

= $70 ÷ $20

= 3.5

= 4 weeks (rounded to nearest week)

Therefore, it will take 4 weeks to save enough to buy the shoes.