There's another approach, which may have value, depending on your priorities with regard to understanding one thing quickly as opposed to developing your math chops. (I'm not ranking one above the other, mind you, but they are different objectives.)
That approach is guessing. One can get better at guessing, and in doing so, develop an intuition as to which way solutions will "go". In this particular instance, we might start out by guessing a $40$-hour work week. We then try that guess out. One-fourth of $40$ is $10$ hours in meetings (gak), and five-eighths of $40$ is $25$ hours writing reports (double gak). That leaves $40-10-25 = 5$ hours left for doing accounts.
Obviously, that didn't work, but it was close, so we might anticipate that if there is a solution, it will be close to $40$ hours. So let's try another number; let's try $35$. One-fourth of $35$ is $8.75$ hours spent in meetings; five-eighths of $35$ is $21.875$ hours spent writing reports. That leaves $35-8.75-21.875 = 4.375$ hours left for doing accounts.
Two lessons from this second trial: one, we reduced the total hours, and we had fewer hours left for doing accounts, where we wanted more; and two, it's easier if we guess numbers divisible by $4$ and/or $8$. So our next guess will be more than $40$, and it will be a "nice" number, where $4$ and $8$ are concerned. We can guess $44$ or $48$, and one of those will get us what we want.
To be sure, this approach does not give the "right" analysis, and if we don't provide that, we (meaning you) probably won't get full credit on an actual problem. But if one pays close attention to how the various parts of the problem vary with each other, one can suss out how to analyze it, and better internalize the situation to boot.
It's trivial, once you have done a few of these problems, to see that you let the total numbers be denoted by $x$, that you express the variable parts in terms of $x$, and the constant parts as numbers, and you set up an equation. But without a recipe book in the form of a textbook or other aid (a situation that is common in the real world), we have to figure out how to approach problems, and one effective way to develop that skill, in my opinion, is to practice guessing.