A company has a budget of $50,000 for a project. If they spend $30,000 in the fi

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Question: A company has a budget of $50,000 for a project. If they spend $30,000 in the first month, what percentage of the budget remains?

Options:

Correct Answer: 60%

Solution:

Remaining budget = $50,000 - $30,000 = $20,000. Percentage remaining = ($20,000 / $50,000) * 100 = 40%.

A company has a budget of $50,000 for a project. If they spend $30,000 in the first month, what percentage of the budget remains?

A company has a budget of $50,000 for a project. If they spend $30,000 in the first month, what percentage of the budget remains?

Step 1: Identify the total budget, which is $50,000.
Step 2: Determine how much money was spent in the first month, which is $30,000.
Step 3: Calculate the remaining budget by subtracting the amount spent from the total budget: $50,000 - $30,000.
Step 4: The remaining budget is $20,000.
Step 5: To find the percentage of the budget that remains, divide the remaining budget by the total budget: $20,000 / $50,000.
Step 6: Multiply the result by 100 to convert it to a percentage: ($20,000 / $50,000) * 100.
Step 7: The percentage remaining is 40%.

Budgeting – Understanding how to calculate remaining funds after expenditures.
Percentage Calculation – Calculating the percentage of a total based on a remaining amount.