Question

Joel earns $1,500 per month. If he spends $375 on rent each month, what percent of his income does he spend on rent?

Answer 1

First, we must express the ratio of rent to Joel's total earning. 375 out of 1500 in its simplest form is 1/4. To express a value in percentage, we must multiply it to 100. Thus, for this case, we have 1/4 x 100 = 25% That means, out of a total of 100%, Joel spends 25%of his income on rent.