Question

Miguel is saving towards the purchase of a used car. The price of the car is $3,400, and Miguel has saved $1,496 so far. What percent of the total cost has he saved? Explain how you found your answer.

Answer 1

Total amount that Miguel need to save for the purchase of the car = $3400
Amount that Miguel has saved up = $ 1496

The percentage of amount that Miguel has saved up can be calculated as:

(Amount that he has saved up)/(Total amount needed to purchase the car) x 100 %

Using the values, we get:

Percent of total cost he saved =
`(1496)/(3400) * 100`%

Percent of total cost he saved = 44%

Thus, Miguel has saved 44% of the cost needed to buy the car