Each year rolando saves 8% of his income. This year he saved $3000 and his salary was $2000 less than in the previous year. What was his salary in the previous year? Write and solve an equation.
Accepted Solution
A:
Answer: $39500
Explanation: The first part of this question states that Kyle saves 8% of his salary each year. This year he earned $3000. This can be translated into 3000 = x β 8 % , or 3000 = 0.08 x . First you divide both sides by 0.08, which equals 3000 0.08 = x , which gets you $37500. The second part of the question says Kyle earned $2000 less this year compared to last year. Simply add $2000 onto $37500 to find that Kyle earned $39500 last year.