Daniel had 85% as much savings as Julian but 30% less than what Michael had. If they saved $3432 altogether, how much did Michael save?
Question
Daniel had 85% as much savings as Julian but 30% less than what Michael had. If they saved $3432 altogether, how much did Michael save?
Solution
Let's denote the amount of money that Julian, Daniel, and Michael saved as J, D, and M respectively.
From the problem, we know that:
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Daniel had 85% as much savings as Julian, so D = 0.85J.
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Daniel had 30% less than what Michael had, so D = 0.70M.
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The total amount of money saved by Julian, Daniel, and Michael is $3432, so J + D + M = 3432.
We can use these three equations to solve for the values of J, D, and M.
First, let's use the first two equations to express J and M in terms of D:
From D = 0.85J, we can rearrange to find J = D / 0.85.
From D = 0.70M, we can rearrange to find M = D / 0.70.
Now, we can substitute these expressions into the third equation:
J + D + M = 3432 (D / 0.85) + D + (D / 0.70) = 3432 (1.17647D) + D + (1.42857D) = 3432 3.60504D = 3432
Solving for D, we find D = 3432 / 3.60504 = $952.
Substituting D = 952 / 0.70 = $1360.
So, Michael saved $1360.
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