SOLUTION: LA couple decide to analyze their monthly spending habits. The monthly bills are 50% of their take-home pay, and they invest 20% of their take-home pay. They spend $560 on grocerie
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-> SOLUTION: LA couple decide to analyze their monthly spending habits. The monthly bills are 50% of their take-home pay, and they invest 20% of their take-home pay. They spend $560 on grocerie
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Question 368938: LA couple decide to analyze their monthly spending habits. The monthly bills are 50% of their take-home pay, and they invest 20% of their take-home pay. They spend $560 on groceries, and 23% goes to miscellaneous. How much is their take-home pay per month? Answer by lkellhomes(6) (Show Source):
You can put this solution on YOUR website! Let's analyze the percentages given of take home pay...
50% - bills
20% - invested
23% - miscellaneous
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93% - Total so far
7% - Must be the percentage for the groceries
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Given that the grocery bill totals $560, we can set up a proportion to solve
(part/whole) = (part/whole)
(560 is part of the income/x is the unknown whole) = (7percent is part/100 is the whole percentage)
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(560/x) = (7/100)
7x = 56000
x = 8000
The couple's monthly income is $8000 per month
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