Answer:
48.65%
Explanation:
Given Income are written in increasing order
First Quintile 10,000 12,000
Second Quintile 16,000 18,000
Third Quintile 24,000 24,000
Fourth Quintile 36,000 50,000
Fifth Quintile 80,000 100,000
Total Income % share
First Quintile 10,000 12,000 22,000 5.95
Second Quintile 16,000 18,000 34,000 9.19
Third Quintile 24,000 24,000 48,000 12.97
Fourth Quintile 36,000 50,000 86,000 23.24
Fifth Quintile 80,000 100,000 <u>180,000</u> <u>48.65</u>
Total income in the economy <u>370,000</u> <u>100%</u>
The percentage of the total income of the highest quintile is 48.65%
