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Joe's monthly budget includes $1,200 for rent, $400 for his car paymen

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Bunuel
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Joe's monthly budget includes $1,200 for rent, $400 for his car paymen [#permalink] New post   09 Jul 2020, 03:41
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Joe's monthly budget includes $1,200 for rent, $400 for his car payment, $150 for insurance, $250 for utilities, and $200 for groceries. Assuming that Joe' monthly take-home pay is $3,300, what fraction of it is left for discretionary spending?

A. 1/5
B. 1/4
C. 1/3
D. 215
E. 213
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rajatchopra1994
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Re: Joe's monthly budget includes $1,200 for rent, $400 for his car paymen [#permalink] New post   09 Jul 2020, 03:59
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Explanation:

$1,200 for rent, $400 for his car payment, $150 for insurance, $250 for utilities, and $200 for groceries
So Sum = 2200$
Salary = 3300
money left - 1100$

Ratio = 1100/3300 = 1/3
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Re: Joe's monthly budget includes $1,200 for rent, $400 for his car paymen [#permalink] New post   09 Jul 2020, 04:17
3300-2200 = 1100

1100/3300
= 1/3 is left.
C.

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Re: Joe's monthly budget includes $1,200 for rent, $400 for his car paymen [#permalink] New post   09 Jul 2020, 04:40
Bunuel wrote:
Joe's monthly budget includes $1,200 for rent, $400 for his car payment, $150 for insurance, $250 for utilities, and $200 for groceries. Assuming that Joe' monthly take-home pay is $3,300, what fraction of it is left for discretionary spending?

A. 1/5
B. 1/4
C. 1/3
D. 215
E. 213


Total Budgetted spends = 2200
Take Home = 3300

Balance = 1100

Fraction of balance for discretionary spends considering that there are no savings planned = 1100/3300 = 1/3

OA : C
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Re: Joe's monthly budget includes $1,200 for rent, $400 for his car paymen [#permalink]
09 Jul 2020, 04:40
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