A man spends 40% of his income on necessities and 25% on savings. If he has $200

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Question: A man spends 40% of his income on necessities and 25% on savings. If he has $200 left, what is his total income? (2020)

Options:

Correct Answer: $600

Exam Year: 2020

Solution:

Let total income = x. Then, 0.35x = 200. Therefore, x = 200 / 0.35 = $600.

A man spends 40% of his income on necessities and 25% on savings. If he has $200 left, what is his total income? (2020)

A man spends 40% of his income on necessities and 25% on savings. If he has $200 left, what is his total income? (2020)

Step 1: Understand that the man spends 40% of his income on necessities and 25% on savings.
Step 2: Calculate the total percentage of income that he spends. This is 40% + 25% = 65%.
Step 3: Since he has $200 left, this means he has 35% of his income remaining (100% - 65% = 35%).
Step 4: Let the total income be represented as 'x'. We can write the equation: 0.35x = 200.
Step 5: To find 'x', divide both sides of the equation by 0.35: x = 200 / 0.35.
Step 6: Calculate the value of x: 200 divided by 0.35 equals $600.

Percentage Calculation – Understanding how to calculate portions of income based on given percentages.
Algebraic Manipulation – Setting up and solving equations to find the total income based on remaining amounts.