Mason always saves 25% of his salary. If his salary decreases by 10% , his savings will decrease by $241. How much is Mason's original salary?
Question
Mason always saves 25% of his salary.
If his salary decreases by 10%, his savings will decrease by $241.
How much is Mason's original salary?
Solution
To solve this problem, we need to follow these steps:
-
Let's denote Mason's original salary as X. Since Mason saves 25% of his salary, his savings amount to 0.25X.
-
If his salary decreases by 10%, his new salary becomes 0.9X. Since he still saves 25% of his salary, his new savings amount to 0.25*0.9X.
-
According to the problem, the difference between his original savings and his new savings is 241.
-
Simplifying the equation gives: 0.025X = $241.
-
Solving for X, we get: X = 9,640.
So, Mason's original salary was $9,640.
Similar Questions
Jacob always saves 40% of his salary. If his salary decreases by 10% , his savings will decrease by $200. How much is Jacob's original salary?
Raj always saves 50% of his salary. If his salary decreases by 10% , his savings will decrease by $300. How much is Raj's original salary?
Ethan always saves 60% of his salary. If his salary decreases by 15% , his savings will decrease by $270. How much is Ethan's original salary?
John's salary was decreased by 50% and subsequently increased by 50%. How much percent does he loss?
Chris earns $2480 a month. He spends $1620 every month and saves the rest. How much will he save in 5 years?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.