A man earns $5000 and spends 80% of it. How much does he save?

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Question: A man earns $5000 and spends 80% of it. How much does he save?

Options:

Correct Answer: 1000

Solution:

Amount spent = 80% of $5000 = (80/100) * 5000 = $4000. Savings = $5000 - $4000 = $1000.

A man earns $5000 and spends 80% of it. How much does he save?

A man earns $5000 and spends 80% of it. How much does he save?

Step 1: Identify the total amount the man earns, which is $5000.
Step 2: Calculate 80% of $5000 to find out how much he spends. This is done by multiplying 80 by 5000 and then dividing by 100.
Step 3: Perform the calculation: (80/100) * 5000 = $4000. This is the amount he spends.
Step 4: To find out how much he saves, subtract the amount spent from the total amount earned: $5000 - $4000.
Step 5: Perform the subtraction: $5000 - $4000 = $1000. This is the amount he saves.

Percentage Calculation – Understanding how to calculate a percentage of a total amount.
Basic Arithmetic – Performing subtraction to find the remaining amount after spending.