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If a person earns $5000 and spends 60% of it, how much does he save?

Practice Questions

Q1
If a person earns $5000 and spends 60% of it, how much does he save?
  1. $1500
  2. $2000
  3. $2500
  4. $3000

Questions & Step-by-Step Solutions

If a person earns $5000 and spends 60% of it, how much does he save?
Correct Answer: $2000
  • Step 1: Identify the total earnings, which is $5000.
  • Step 2: Calculate 60% of the total earnings. To do this, multiply $5000 by 0.60.
  • Step 3: Perform the multiplication: $5000 * 0.60 = $3000. This is the amount spent.
  • Step 4: Subtract the amount spent from the total earnings to find the savings. So, $5000 - $3000 = $2000.
  • Step 5: The final answer is that the person saves $2000.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount.
  • Basic Arithmetic – Performing subtraction to find the difference between total earnings and spending.
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