Vinh is saving for a standing mixer that costs $400. He currently has $160 saved. What percentage does he have saved

Answer 1

To find out what percentage of the total cost Vinh has saved, you can use the formula:

\[ \text{Percentage Saved} = \left( \frac{\text{Amount Saved}}{\text{Total Cost}} \right) \times 100 \]

Substituting in Vinh's values:

\[ \text{Percentage Saved} = \left( \frac{160}{400} \right) \times 100 \]

Calculating this:

\[ \text{Percentage Saved} = 0.4 \times 100 = 40% \]

Vinh has saved 40% of the cost of the standing mixer.