Question

The LaRussa family has a disposable annual income of $53,120. They spend $280 per week for food. What percentage of their disposable annual income do they speeach year for food?26.1%27.4%28.1%29.0%None of these choices are correct.

Answer 1

From the information given,

annual income = $53120

Amount spent for food per week is $280

Recall, in a year, the number of weeks is approximately 52. Thus,

Amount spent for food per year would be 280 x 52 = $14560

Recall, percentage is expressed in terms of 100. Thus, the percentage of their disposable annual income that they spend each year for food is

14560/53120 x 100

= 27. 4%

The second option is correct