Question

Its a good thing this family has "just-in-case" funds because one month their car had two flat tires, and they spent $397.00 to buy new tires!
What percent of their monthly income was that expense?
(round to the nearest whole percent)

Monthly income: $3500.00
Housing costs: 30% ($1050.00)
Food: 20% ($700.00)
Clothing: 10%

Answer 1

Answer:

Percentage of their monthly income for expenditure on new tires  = 11.34%

Explanation:

Monthly income of the family =  $3500.00

Expenditure on new tires = $397.00

Percentage of their monthly income was that expense = (Expenditure on new tires/ Monthly income of the family) x 100

  Percentage of their monthly income for expenditure on new tires  = (397/3500)x100

                                              = 11.34 %

 So, percentage of their monthly income for expenditure on new tires  = 11.34%