Calculate Lucy's Monthly Savings: 25% of $5000

The salary Lucy receives each month is 5000 dollars. She spends 75% of the money and saves the rest. How much money does Lucy save per month?

Video Solution

Solution Steps

00:00 Determine the amount of money Lucy saves per month

00:05 The percentage of expenses according to the data

00:22 Subtract this percentage from the whole in order to determine the percentage of savings

00:34 This is the monthly savings percentage

00:46 Convert from a percentage to a fraction

00:51 Use the formula to convert percentages to fractions

00:56 Apply this formula to our exercise

01:06 Multiply this fraction by the whole in order to determine Lucy's savings

01:26 Break down 5000 into factors of 100 and 50

01:36 Reduce wherever possible

01:41 This is the solution

Step-by-Step Solution

To solve this problem, we'll follow these steps:

Let's start with Step 1:
Lucy spends 75% of her salary, so she saves $100\% - 75\% = 25\%$ .

Now, Step 2:
We need to determine 25% of her monthly salary of 5000. We use the formula for finding a percentage of a number:

$\( \text{Amount saved} = \frac{25}{100} \times 5000$

Calculate the multiplication:

$\text{Amount saved} = 0.25 \times 5000 = 1250$

Therefore, Lucy saves $\text{\1250} \)$ per month.