A man spends 30% of his salary on rent, 20% on food, and saves the rest. If his

A man spends 30% of his salary on rent, 20% on food, and saves the rest. If his salary is $1000, how much does he save?

A man spends 30% of his salary on rent, 20% on food, and saves the rest. If his salary is $1000, how much does he save?

Correct Answer: 500

Step 1: Identify the man's salary, which is $1000.
Step 2: Calculate the amount spent on rent by finding 30% of $1000. This is done by multiplying 1000 by 0.30, which equals $300.
Step 3: Calculate the amount spent on food by finding 20% of $1000. This is done by multiplying 1000 by 0.20, which equals $200.
Step 4: Add the amounts spent on rent and food together. This is $300 (rent) + $200 (food) = $500.
Step 5: Calculate the savings by subtracting the total expenditure from the salary. This is $1000 (salary) - $500 (total expenditure) = $500.

Percentage Calculation – Understanding how to calculate percentages of a total amount.
Budgeting – Determining how much is spent and saved based on given percentages.