BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Cohen’s monthly budget allowed them to spend $645 for groceries each month. During November they spent $756.82. How much more or less did they spend than budgeted?
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$223.64 more
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$223.64 less
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$111.82 more
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$111.82 less
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Explanation:
Detailed explanation-1: -The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it’s right for you.
Detailed explanation-2: -For those who don’t know, the 50-30-20 budget plan is an American concept that seeks to save money and budget your money smartly. After taxes, your income should be divided into: 50% on essential needs; 30% on wants; and 20% on paying off your debt or setting aside funds in case of an emergency.
Detailed explanation-3: -Food (10-15 percent) Many budgeters include grocery shopping and dining out in this category (e.g., restaurant meals, work lunches, food delivery, etc.)
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