Terry makes $2400 per month in gross income. His net earnings are 80% of his gross. His utility bills total $150.
What percentage of Terry's net earnings is he spending on utilities? Enter your answer as a percentage, such as: 1.5%.
i have come to the conclusion that the answer is 7.8%.......testicular cancer?
To find the percentage of Terry's net earnings he is spending on utilities, we need to calculate his net earnings first.
Since his net earnings are 80% of his gross income, we can calculate his net earnings as follows:
Net earnings = Gross income x (Net earnings as a percentage)
Given that Terry's gross income is $2400, we can substitute the values to calculate his net earnings:
Net earnings = $2400 x (80/100)
Net earnings = $2400 x 0.80
Net earnings = $1920
Now that we know his net earnings are $1920, we can calculate the percentage of his net earnings spent on utilities:
Percentage spent on utilities = (Utility bills / Net earnings) x 100
Given that his utility bills are $150, we can substitute the values to calculate the percentage spent on utilities:
Percentage spent on utilities = ($150 / $1920) x 100
Percentage spent on utilities = 0.078125 x 100
Percentage spent on utilities ≈ 7.81%
Therefore, Terry is spending approximately 7.81% of his net earnings on utilities.
To find the percentage of Terry's net earnings that he spends on utilities, we need to calculate his net earnings first.
Net earnings = Gross income * Net percentage
Given that Terry's gross income is $2400 and his net earnings are 80% of his gross, we can calculate his net earnings:
Net earnings = $2400 * 0.80
Net earnings = $1920
Now that we have Terry's net earnings, we can find the percentage of his net earnings spent on utilities.
Percentage spent on utilities = (Utility bills / Net earnings) * 100
Given that Terry's utility bills are $150, we can calculate the percentage spent on utilities:
Percentage spent on utilities = ($150 / $1920) * 100
Percentage spent on utilities ≈ 7.81%
Therefore, Terry spends approximately 7.81% of his net earnings on utilities.
To find net earnings — multiply 2400 by 0.80 = n
Then you have a fraction, so you'll divide:
150 / n = percentage of his net earnings spent on utilities