## Related questions with answers

Their net monthly income is $4,500. They have an emergency fund that is 6% of their monthly budget and they have a savings of 7% per month. Medical costs are$675 per month, housing is $1,485, and transportation costs$450. Food accounts for 17% of the monthly budget and they spend 5% on entertainment. They also spend 7% of the budget on clothing each month. How much does the Plimpton family spend on clothing each month?

Solution

Verified$\text{Net monthly income of Plimpton family }=\$4,500$

$\text{Percentage of budget used for clothing}=7\%$

$\textbf{Amount spent on clothing }=\dfrac{\text{Percentage}}{100}\times{\text{Net monthly income}}$

$\begin{align*} \text{\color{#4257b2}Amount spent on clothing}&=\dfrac{7}{100}\times{4,500}\\ \\ &=0.07\times{4,500}\\ \\ &=\$315 \end{align*}$

$\textbf{Hence, Plimpton family spend $\$315$ monthly on clothing.}$

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