Ed spent 8.5% of his savings on lunch, which cost $5.35. How much did he have in savings before lunch?

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Ed spent 8.5% of his savings on lunch, which cost $5.35. How much did he have in savings before lunch?

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Answer 1 · 2016-12-08T11:42:36

$color(green)("Taking it 1 step at a time so you can see what is going on." )$

$color(brown)("As you become more efficient at working out this question type you" )$ $color(brown)("will start to use shortcuts methods and skip steps.")$

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
$color(blue)("Solving for amount of savings")$

Note that $8.5%" is the same as "8.5/100$

8.5% of savings $-> 8.5%xx "savings"$

so 8.5% of savings is $5.35 becomes:

$" "color(brown)(8.5/100xx"savings"=$5.35)$

Multiply both sides by 100

$" "color(brown)(100/100xx8.5xx"savings"=100xx$5.35)$

But $100/100=1$

$" "color(brown)( 8.5xx" savings"=$535.00)$

Divide both sides by 8.5

$" "color(brown)(8.5/8.5xx"savings"=($535.00)/8.5)$

$" "color(brown)(" savings" = $62.94117...$

$" "color(blue)("savings"=$62.94" to 2 decimal places")$

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Ed spent 8.5% of his savings on lunch, which cost $5.35. How much did he have in savings before lunch?

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