Question

Victor Malaba has a net income of $1,240 per month. If he spends $150 on food, $244 on a car payment, $300 on rent, and $50 on savings, what percent of his net income can he spend on other things?

Answer 1

So Victor has 1240$ per month and has some expenses. We want to know how much money in percentage remains for other spending after he pays his expenses. First lets see how much are his expenses: 150$+300$+244$+50$=744$. So his expenses are 744$. Now lets see how much percent are his expenses: 744$/1240$=0.6*100%=60% His expenses are 60% of his salary. That means 40% of his salary remains for him to spend on other things.