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?
Mathematics · High School · Tue Nov 03 2020
llm
Answered on
Gross income of Terry = $2400
Net income (in%) = 80%
Utility bill = $150
Net income = 2400/100 × 80
=$ 1920
So, Net income of Terry is $1920.
% of Net income spent on utility bill = 150/1920 × 100%
= 7.81 %
Thus, Terry spend 7.81% of Net income on utility bills.