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

Question

Question 6 options:

A)

64%

B)

40%

C)

43%

D)

300%

Answer 1

To find out what percent of Victor Malaba's net income he can spend on other things, we first need to calculate his total monthly expenses and then determine how much he has left for other expenses.

1. Calculate the total expenses:

   • Food: $150
   • Bills: $244
   • Rent: $300
   • Savings: $50

   Total expenses = Food + Bills + Rent + Savings Total expenses = $150 + $244 + $300 + $50 = $744

2. Calculate how much money he has left after expenses:

   • Net income = $1,240
   • Remaining money = Net income - Total expenses
   • Remaining money = $1,240 - $744 = $496

3. Now calculate the percentage of his net income that the remaining money represents:

   • Percent of net income = (Remaining money / Net income) × 100
   • Percent of net income = ($496 / $1,240) × 100 ≈ 40%

So, the percentage of his net income that Victor Malaba can spend on other things is 40%.

Therefore, the answer is B) 40%.