Question

Victor Malaba has a net income of $1,240 per month. If he spends $150 on food, $244 on a car payment , $300 on rent, and $50 on savings, what percent of his net income can he spend on other things?

Answer 1

40%

Explanation:

The amount of income allocated to the items listed totals $744, so there is $496 he can spend on other things. As a percentage of income, that is ...

496/1240 × 100% = 40%

Malaba can spend 40% of his net income on other things.