A family spends 20% of its monthly income on food, 23% on rent, and 42% on other expenses and saves the balance. If the family saves $360 per month, what is its monthly income?
Anonymous
Favorite Answer
20% on food, 23% of rent, 42% on other, leaves 15% for savings. $360 per month is the savings, then $2400 is the monthly income.
2400 monthly income
food = 2400 x 20% = $ 480
rent = 2400 x 23% = $ 552
other = 2400 x 42% = $1,008
savings = 2400 x 15% = $ 360
Total = $2,400
Spock (rhp)
these silly made up questions for schools teach all the wrong things.
First, this family is paying NO taxes yet has income. This is so NOT America.
Second, only 23% for rent equals $552 a month. Please excuse me, but you can't rent a hovel in any American city or suburb [where almost all the students are] for $552 a month, much less space big enough for a family.
And then there's food. $480 a month for food !! unbelievable. just flat unbelievable. "Family" almost certainly means at least three people. $111 a week for three people's food hasn't been real in America for at least 15 years, more like 30.
In fact, 30 years ago is when I made 'only' 2400 a month and I was just starting out at the time -- didn't have a family. Any modern two income family makes more than 2400 a month.
***
I'm afraid your textbook is so badly out of date that it would be better used as charcoal starter or to train the new puppy.
:-)
Mario
20%+23%+42%=85%
100%-85%=15%
15%=$360
15% - $360 RULE OF 3
100% - X
360*100=36000
36000/15=2400
$2400
rrossorr
100% - 23% - 42% - 20% = 15%
Income * 0.15 = $360
Divide 360 by 0.15 = $2400
Gerald
Saving is very inportant $360 a month who care what the rest is