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? A. 40% B. 64% C. 300% D. 43%

Answer 1

Answer:

40%

Explanation:

Given:

Net income of Victor Malaba = $ 1,240 per month

Amount spend on food = $150

Amount spend on a car payment = $244

Amount spend on rent = $300

Amount for savings = $50

Thus,

Total expenses = $ 150 + $ 244 + $ 300 + $ 50 = $ 744

the total amount left after the above expenses = Net income - The total expenses

or

The amount left = $ 1,240 - $ 744 = $ 496

Therefore, the percentage of net income that can he can spend on other things = $\frac{496}{1240}\times100%$

or

The percentage of net income that can he can spend on other things = 40%