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slavikrds [6]
3 years ago
5

Given the following information, calculate the savings ratio:

Business
1 answer:
inessss [21]3 years ago
3 0

Answer:

$21.71%

Explanation:

Given that

Monthly saving = $760

Gross income = $3500

The computation of the savings ratio is shown below:-

Savings Ratio = (Monthly savings ÷ Gross Income) × 100

= ($760 ÷ $3,500) × 100

= $0.21 × 100

= $21.71%

Therefore for computing the saving ratio we simply divide gross profit by monthly saving and after a result we multiply by 100.

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