Question

Look at Jerry's monthly budget below. What percentage of Jerry's net income is budgeted for healthcare expenses?

Net Monthly Income:. $2,970.00



Expenses:


Housing: $750.00
Utilities: $120.00
Food: $450.00
Transportation: $650.00
Healthcare expenses: $200.00
Saving: $300.00
Other expenses: $500.00


Total Monthly Expenses:. $2,970.00


A 6.7%
B 10%
C 18%
D 67%

Answer 1

A. 6.7%

Explanation:

A percentage is a part of one hundred written with %. If 100% of Jerry's income each month is $2,970.00 and Jerry spends a part of this income ($200) on heathcare, what is the percentage of his income he spends?

We will divide 200/2,970 or the $ part/ $ whole which equals 0.067. This decimal can be converted to a percent by multiplying it by 100.

100(0.067)=6.7%