SOLUTION: In 2002, a salesman’s monthly income was $1500 for the first 6 months. It was 25% less for the rest of the year. His total income was 20% more than his total income in 2001. Find

Algebra ->  Finance -> SOLUTION: In 2002, a salesman’s monthly income was $1500 for the first 6 months. It was 25% less for the rest of the year. His total income was 20% more than his total income in 2001. Find      Log On


   

Question 1164284: In 2002, a salesman’s monthly income was $1500 for the first 6 months. It was 25% less for the rest of the year. His total income was 20% more than his total income in 2001. Find the average monthly income in 2001.?.
Answer by ikleyn(52781) About Me  (Show Source):
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            This problem is solved in  5  (five)  steps. 


(1)  His income in the first half of the year 2002 was  1500*6 = 9000  dollars.


(2)  His income in the second half of the year 2002 was  9000*0.75 = 6750  dollars.


(3)  His total income in the year 2002 was  9000 + 6750 = 15750  dollars.


(4)  Let X be his total income in the year 2001.  Then  1.2X = 15750;  hence,  X = 15750%2F1.2 = 13125 dollars.

(5)  Now his average monthly income in the year 2001 was  13125%2F12 = 1093.75 dollars.     ANSWER

Solved.