Question

Your parents give you an allowance of $50.00 a month. If you take 30% of your allowance after a year to save, how much money would you have saved after a year?

Answer 1

First, find out what is 30% of $50.00 equal to:

$\frac{30}{100}\cdot50=15$

Each month, you save $15.00

Since a year has 12 months, multiply $15.00 times 12 to find the total amount of money that you have saved after one year:

$12\cdot15=180$

Therefore, you would have saved $180 after one year.