Question

Ralph’s annual expenses for the upcoming year are summarized in the chart below. Based on the information in the graph, approximately what percent of his total annual income is Ralph having withheld for taxes?
a. 6%
b. 18%
c. 30%
d. 36%

Answer 1

Answer:

D

Step-by-step explanation:

You have to do the summation of all expenses so

1,750+3,260+3,500+4,332+6,652+4,880+15,000+3,448+18,380= 61,202

The total of taxes is composed of state taxes and federal taxes

3,448+18,380= 21,828

Set up a proportion to calculate the percentage

21,828 : 61,202 = x% : 100%

$x\% = \frac{21828 \times 100}{61202} = \frac{2182100}{61202} = 35.67\%$

You can approximate the result to 36%

Answer 2

The percentage of the annual budget withheld for taxes is 36%.

Total budget of Ralph

The total budget of Ralph is calculated as follows;

T = 1,750 + 3,260 + 3,500 + 4,332 + 6,652 + 4,880 + 15,000 + 3,448 + 18,380

T = $61,202

Total tax on Ralph's annual budget

Tax = 3,448 + 18,380

Tax = $21,828

The percentage of the annual budget withheld for taxes is calculated as follows;

$= \frac{tax}{total \ budget} \times 100\%\\\\= \frac{21,828}{61,202} \times 100\%\\\\= 35.67 \ \%\\\\\approx 36 \ \%$

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