Question

Greg evaluated his spending and found that he was spending about $50 more per month on utilities than he has budgeted. He can transfer money from other categories to increase his utilities budget to $125 per month. If his total monthly income is $2,400, to the nearest percent, what percent of his monthly income will be budgeted for utilities?.

Answer 1

The percent of his monthly income that will be budgeted for the utilities will be approximately 5.21%.

According to the question,

We have the following information:

Greg evaluated his spending and found that he was spending about $50 more per month on utilities than he has budgeted. He can transfer money from other categories to increase his utilities budget to $125 per month. If his total monthly income is $2,400.

Now, let's take the percent to be x.

We have the following expression:

2400*x/100 = 125

24x = 125

x = 125/24

x = 5.21%

Hence, the percent of his monthly income that will be budgeted for the utilities will be approximately 5.21%.

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