Question

AKI-OLA publication annual income of 258,ooo

Answer 1

Answer:

(a) 19%

(b) 5:6

Step-by-step explanation:

Given: Gh 258,000

salaries Gh 49,020

training Gh 72,000

housing Gh 60,000

entertainment Gh 12,000

exigencies Gh 23,020

(a) Percentage of the income spent on salaries = $\frac{amount of salaries}{total income}$ x 100

                           = $\frac{49020}{258000}$ x 100

                           = 0.19 x 100%

                           = 19%

The percentage of the income spent on salaries is 19%.

(b) Ratio of amount for housing to amount for training = $\frac{amount for housing}{amount for training}$

                                = $\frac{60000}{72000}$

                                = $\frac{5}{6}$

The ratio of the amount for housing to the amount for training is 5:6