To find the percentage of the total monthly income that was set aside for savings, you first need to calculate the total monthly income and then use that to find the percentage allocated to savings.
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Calculate the total monthly income:
- Food: $450
- Housing: $1,000
- Transportation: $300
- Clothing: $150
- Savings: $850
- Utility Bills: $350
- Education: $1,500
- Miscellaneous: $700
Total = 450 + 1000 + 300 + 150 + 850 + 350 + 1500 + 700 = $4,400
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Calculate the percentage for savings:
- Savings = $850
- Total Income = $4,400
Percentage for savings = (Savings / Total Income) × 100 Percentage for savings = (850 / 4400) × 100
Percentage for savings ≈ 19.32%
Rounding to the nearest hundredth, it would be approximately 19.32%.
However, none of the options given exactly match this calculated percentage, which suggests that the answer options provided may not correctly represent the budget breakdown. If rounding discrepancies occur, then the closest approximate answer from the options available is 19.42%. Thus, if choosing from provided options, 19.42% would be the selection to make.
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