colin gets £x wages each week. after he pays his tax of £t, he then pays his rent of £250. he shares what's left between himself and his wife. how much do they both get each?
Answers
$10,000 monthly. But that answer precludes any other outgoings (tax, debt service, investment etc and is answered as a simple computational problem). Best thought about mentally by calculating fractions of a common denominator. Of fractions in question, denominators 3,4,6 & 8 share a common multiple of 24, so spending can quickly be thought about in fractional parts of 24. Thus rent at 1/3 salary is also 8/24 salary. Taking each outlay in turn yields expenditure of 21/24ths of salary. It fallows that $1,250 is 3/24ths of salary, so salary must be $1,250 *24÷3 or $1250*8 = $10,000.
I make no judgement as to the relative merits, or otherwise, as to how prudent it is to dispose of a $120,000 annual salary. But the above outlays in this question wouldn't be my spending choice.
Khushi... ☺☺