from net earnings of $740 per month, Lisa Jones must spend $200 for her portion of the rent on an apartment she shares with two friends, what percent of her net income is her rent payment? A. 27% B. 32% C. 73% D. 38%
Mathematics · High School · Thu Feb 04 2021
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Given the statement:
From net earnings of $740 per month, Lisa Jones must spend $200 for her portion of the rent on an apartment she shares with two friends.
Determine the percent of her net income is her rent payment.
Solution:
In order to determine the percent of her income allocated for her rent payment, we simply divide 200 by 740.
= 200/740
=0.27
Since we are given a decimal answer, in order to convert it into percentage, we multiply the decimal by 100. Hence, in converting a percentage into decimal, we divide the percentage by 100.
= (0.27)(100)
= 27%
Final answer:
A. 27%