Thepercent 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%.
