Tom's real estate office reports that the office's income last month was $315,600, while expenses were $19,567.20. What percent of last month's income was spent on office expenses?

Question

Mathematics

Lesly Mckenzie

17 June, 09:04

Tom's real estate office reports that the office's income last month was $315,600, while expenses were $19,567.20. What percent of last month's income was spent on office expenses?

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Answers (1)

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Kolton Parks · Answer 1

6.2% of last month's income was spent on office expenses

Step-by-step explanation:

1. Let's review the information given to us to answer the question correctly:

Office's income last month = $ 315,600

Expenses last month = $ 19,567.20

2. What percent of last month's income was spent on office expenses?

To calculate this percent, we use this fraction:

Expenses last month/Office's income last month

Replacing with the real values:

19,567.20/315,600 = 6.2%

6.2% of last month's income was spent on office expenses