Last year, Valen saved $1000 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% → 1000
1% → 1000 ÷ 100 = 10
20% → 20 x 10 = 200
More monthly savings this year = $200
More savings this year compared to last year
= 12 x 200
= $2400
Answer(s): $2400