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?
Question
Ethan's Savings Problem
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?
Solution
Step 1: Let's denote Ethan's original salary as X.
Step 2: We know that Ethan saves 60% of his salary, so his savings are 0.60X.
Step 3: If his salary decreases by 15%, his new salary becomes 0.85X.
Step 4: His savings would also decrease proportionally, so his new savings would be 0.60 * 0.85X = 0.51X.
Step 5: We know that the decrease in his savings is 270.
Step 6: Simplifying the equation gives 0.09X = $270.
Step 7: Solving for X, we get X = 3000.
So, Ethan's original salary is $3000.
Similar Questions
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?
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?
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?
Eric earns $2360 a month. He spends $1590 every month and saves the rest. How much will he save in 5 years?
Sharko earns $2160 a month. He spends $1540 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.