BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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41.7%
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76%
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24%
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Detailed explanation-1: -To calculate a budget percentage, subtract the actual budget from the planned budget, then divide by the planned budget amount and multipy by 100.
Detailed explanation-2: -To do this, divide the expense amount of a category by the total amount of monthly income, then multiply by 100 to get the percentage. For instance, if a person makes $1800 US Dollars (USD) per month, and spends $450 per month on groceries, the percentage of income would be (450/1800) x 100, or 25%.
Detailed explanation-3: -This infographic shows the following budget percentages, 10-20% for Insurance, 10-15% for Food, 10-15% for Savings, 10-15% for Transportation, 5-10% for Personal, 5-10% for Recreation, 5-10% for Utilities, 1-5% for Giving, 25-30% for Housing.