Budgeting for Success Quick Check
2 of 52 of 5 Items
Question
Use the image to answer the question.
A pie chart shows the following distribution: food: $450; housing: $1,000; transportation: $300; clothing: $150; savings: $850; utility bills: $350; education: $1,500; miscellaneous: $700.
The Sanchez family’s household budget is shown in the pie chart. Approximately what percentage of the total monthly income was set aside for savings? Round to the nearest hundredth.
(1 point)
Responses
18.24%
18.24%
0.19%
0.19%
19.42%
19.42%
19.61%
19.61%
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To find the percentage of the total monthly income set aside for savings, we need to divide the amount set aside for savings by the total monthly income and then multiply by 100.
The total monthly income can be found by adding up all the amounts in the pie chart: $450 + $1,000 + $300 + $150 + $850 + $350 + $1,500 + $700 = $4,300.
The amount set aside for savings is given as $850.
So, the percentage of the total monthly income set aside for savings is (850/4300) * 100 = 19.77%.
Rounded to the nearest hundredth, this is approximately 19.61%.
Therefore, the correct answer is 19.61%.