Question

Use the data from the Tracer family's monthly spending and income.

Category Percent of Income
Housing 25%
Utilities 5%
Life Insurance 10%
Transportation 15%
Food 15%
Clothing 2%
Entertainment 3%
Savings 15%
Health Care 5%
Miscellaneous 10%
Income $3,000

To the nearest whole percent, what percent of the Tracer's monthly spending was spent on clothing?

Solution

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$55÷$2,600=0.02=2%\$55\div \$2,600 = 0.02 = 2\%

The percent is the amount for clothing divided by the total spending (using the table on page 343).

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