Vinh is saving for a standing mixer that costs $400. He currently has $160 saved. What percentage does he have saved?(1 point)

Question

Responses

20%
20%

16%
16%

30%
30%

40%

Answer 1

To find out what percentage Vinh has saved towards the standing mixer, you can use the formula:

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

In this case, Vinh has saved $160 and the total cost of the mixer is $400.

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

Calculating this gives:

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

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