Final answer:
Tim had $40 and after taking away $27, he now has $13. This is a simple arithmetic subtraction problem.
Step-by-step explanation:
Tim initially had $40 and he subtracted $27 from it. To find out how much money Tim has now, you need to perform a simple subtraction operation: $40 - $27. When you subtract 27 from 40, you get $13.
To find out how much Tim has now, we need to subtract $27 from his initial amount. Starting with $40, if we subtract $27, Tim will have $13 remaining. Therefore, the correct answer is a) $13.
Therefore, the correct answer to the question is a) $13. This is a basic arithmetic problem that involves understanding and performing subtraction.