In busting their income a family allow 1/2 for food ,1/8 for rent, 1/4 for tax and 1/100 for fare if they save 3/5 remainder of the yearly income 80000 what do monthly saving amount
Let's see,
1/3=2/6=4/12=8/24
1/4=2/8=6/24
1/6=2/12=4/24
1/8=3/24
So the total percentage of his expences come down to:
21/24
That what remains is equal to $1250:
3/24∗(Salary)=$1250.
Salary=$1250∗24/3=$10000.
Then we have to calculate for taxes, where the rates in Holland are 52% if you're earning over some amount of €66.422 annually, which translates to $72.921,39 as of the current rates. Thus the total salary becomes
$10000/0.48=$20833,33 per month.
(My joke)
It is impossible to tell.
Assuming John lives in the US, the question fails to account for state and federal income taxes (including social security, medicare and other applicable local taxes), which represent the difference between John's gross salary (the amount earned before taxes) and take-home pay (after taxes). Without knowing this variable (which is affected by the state he lives in, the number of exemptions he has claimed, whether he has reached any social security caps and the number of times he gets paid in a year), the calculation is impossible to derive.
If this is a homework question, you may wish to tell your teacher what I just said so that s/he can rephrase the question in a way that can be answered.
amount spent food, rent, tax, and fare
= (1/2 + 1/8 + 1/4 + 1/100)(80000)
= 70800 leaving him with 9200
saving (3/5) of that = (3/5)(9200) = 5520
To find out the monthly saving amount, we need to calculate the total amount spent on food, rent, tax, and fare, and then subtract it from the annual income. Finally, divide the remaining amount by 12 to get the monthly saving amount.
Let's break down the calculation step by step:
1. Calculate the total amount spent on food:
The family allows 1/2 of their income for food, so the amount spent on food is:
1/2 * 80000 = 40000
2. Calculate the total amount spent on rent:
The family allows 1/8 of their income for rent, so the amount spent on rent is:
1/8 * 80000 = 10000
3. Calculate the total amount spent on tax:
The family allows 1/4 of their income for tax, so the amount spent on tax is:
1/4 * 80000 = 20000
4. Calculate the total amount spent on fare:
The family allows 1/100 of their income for fare, so the amount spent on fare is:
1/100 * 80000 = 800
5. Find the total amount spent on food, rent, tax, and fare:
Total amount spent = food + rent + tax + fare
Total amount spent = 40000 + 10000 + 20000 + 800 = 70800
6. Find the remaining amount (savings):
Remaining amount = Annual income - Total amount spent
Remaining amount = 80000 - 70800 = 9200
7. Calculate the monthly saving amount:
Monthly saving amount = Remaining amount / 12
Monthly saving amount = 9200 / 12 ≈ 766.67
Therefore, the monthly saving amount is approximately $766.67.