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April 20th, 2019, 12:18 PM   #1
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Calculate the amount money and month

A business woman saves N 15 000 each month from her monthly income of N 172 000 to be able to buy a plot of land at the cost N 250 000.
a)
Calculate the number of months it will take the woman to save enough money to buy the plot.
b)Calculate the amount of money remaining that the woman could use for her business.
a) to get the number of months it took the woman to save enough money:
(N 25 000)/(N 15 000) 162/3 months Is it advisable to just call it 17 months because how can one explain 162/3 months?
b)If I calculate the amount money remaining that the woman could use for other business this way:
For each month N 15 000 goes out of the woman monthly salary i.e
N 172 000 - N 15 000 = N 157 000
She is left with N 157 000 for each month. So by the time I sum all the N 157 000 for 16 months, I have ( N 157 000 x 16) = N 2 512 000
That is the woman is left with N 2 512 000 remaining for her business.

OR
Should I say that the woman saved money to buy the land for land 17 months, though not full 17 months.
So the woman still has ( N 172 000 - N 10 000) = N 62 000 of the 17th month salary left. Joining the amount left for 16 month to the amount left for 17th month, I have a total of (N 157 000 + N 62 000) = N 2 574 000.
Which is correct?

Last edited by Chikis; April 20th, 2019 at 12:24 PM.
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April 20th, 2019, 01:18 PM   #2
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Quote:
Originally Posted by Chikis View Post
A business woman saves N 15 000 each month from her monthly income
of N 172 000 to be able to buy a plot of land at the cost N 250 000.
a) Calculate the number of months it will take the woman to save enough
money to buy the plot.
Why are you asking such silly questions?

May I suggest that you STOP using "N ?? ???" to represent money.
Simply use (using above) 15,000, 172,000 and 250,000.
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