Question

The chart below summarizes Ralph's annual expenses for the upcoming year. Based on the information in the graph, approximately what percent of his total budget will be for federal taxes?  a. 6% b. 18% c. 30% d. 36%

Answer 1

The Federal taxes of total budget is 30%

C is correct.

Explanation:

The chart below summarizes Ralph's annual expenses for the upcoming year.

We need to find the percentage for federal taxes.

First we find total annual budget from chart. We will add all the taxes.

Total annual budget = Federal taxes + State tax + Housing + Food + Medical +

Transportation + Recreation

Total Annual Budget = 18380 + 3448 + 15000 + 4880 + 6652 + 4332 + 3500 +

3260 + 1750

= 61202

Total Annual Budget = $61,202

Federal Taxes = $18,380

Now, we will find the percentage of federal taxes.

% of federal taxes
`=(18380)/(61202)* 100`

`=30.03\approx 30\%`

Hence, The Federal taxes of total budget is 30%