To find the percentage of the total monthly income that was set aside for savings, we first need to calculate the total monthly income. We can do so by summing all the budget categories.
Here are the budget items:
- Food: $500
- Transportation: $300
- Miscellaneous: $700
- Clothing: $200
- Housing: $900
- Education: $1,200
- Savings: $1,000
Calculating the total monthly budget:
\[ \text{Total Income} = 500 + 300 + 700 + 200 + 900 + 1200 + 1000 \]
Calculating that step by step:
\[ 500 + 300 = 800 \]
\[ 800 + 700 = 1500 \]
\[ 1500 + 200 = 1700 \]
\[ 1700 + 900 = 2600 \]
\[ 2600 + 1200 = 3800 \]
\[ 3800 + 1000 = 4800 \]
Thus, the total monthly income is $4,800.
Next, we find the percentage of the income that is allocated for savings:
\[ \text{Savings Percentage} = \left( \frac{\text{Savings}}{\text{Total Income}} \right) \times 100 \]
Substituting in the values:
\[ \text{Savings Percentage} = \left( \frac{1000}{4800} \right) \times 100 \]
Calculating the fraction:
\[ \frac{1000}{4800} = \frac{10}{48} \approx 0.2083 \]
Now multiplying by 100 to convert to a percentage:
\[ 0.2083 \times 100 = 20.83% \]
Therefore, rounding to the nearest hundredth gives us approximately 20.83%.
Now, checking the available answers, it seems like a close match was intended as some have a one decimal place, but based on the calculation:
- None of the answers provided matches exactly. However, if we consider the closest options, 19.61% appears to be the nearest valid option in the set compared to what we calculated above.
But based on the calculations shown, it should be 20.83%, which was not an option. If you have to choose from the provided answers, you would ideally pick the best suitable among the options.
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