Last year, Simon saved $1100 monthly. This year, he increased his monthly savings by 20%. How much more money will he be able to save this year compared to last year?
|
Savings |
Before |
100% |
Change |
+ 20% |
After |
120% |
100% → 1100
1% → 1100 ÷ 100 = 11
20% → 20 x 11 = 220
More monthly savings this year = $220
More savings this year compared to last year
= 12 x 220
= $2640
Answer(s): $2640