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(a) In 2003 the family used a total of 49 percent of its gro

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(a) In 2003 the family used a total of 49 percent of its gro [#permalink] New post 31 May 2019, 10:17
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#GREexercise (a) In 2003 the family used a total of 49 percent of its gross annual income.jpg
#GREexercise (a) In 2003 the family used a total of 49 percent of its gross annual income.jpg [ 104.09 KiB | Viewed 4544 times ]


(a) In 2003 the family used a total of 49 percent of its gross annual income for two of the categories listed. What was the total amount of the family’s income used for those same categories in 2004?
(b) Of the seven categories listed, which category of expenditure had the greatest percent increase from 2003 to 2004 ?

[Reveal] Spoiler: OA
(a) $17,550 (b) Miscellaneous


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Re: (a) In 2003 the family used a total of 49 percent of its gro [#permalink] New post 02 Jun 2019, 12:18
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(a) In 2003 the family used a total of 49 percent of its gross annual income for two of the categories listed. What was the total amount of the family’s income used for those same categories in 2004?
Scan the chart to find a PAIR of values that add to 49%.....

Aha, the percentages for Mortgage etc (24%) and Savings (25%) add to 49%
Attachment:
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income.png
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income.png [ 63.67 KiB | Viewed 4543 times ]



Now check the figures for 2004

Attachment:
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income1.png
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income1.png [ 63.75 KiB | Viewed 4547 times ]


In 2004, they spent 27% on Mortgage etc, and 12% on Savings, for a TOTAL of 39%
So, the family spent 39% of their $45,000 income on those two categories.
39% of $45,000 = $17,550

Answer: $17,550
--------------------------------------------

(b) Of the seven categories listed, which category of expenditure had the greatest percent increase from 2003 to 2004 ?
Scan the chart to find the biggest RELATIVE increase.
We see that this occurs in the Miscellaneous category, where it more than TRIPLES from 2003 to 2004
Attachment:
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income3.png
#GREexcercise (a) In 2003 the family used a total of 49 percent of its gross annual income3.png [ 63.7 KiB | Viewed 4543 times ]



Answer: Miscellaneous

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Brent
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Re: (a) In 2003 the family used a total of 49 percent of its gro [#permalink] New post 06 Jun 2019, 00:46
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a) (39*45000) / 100 = 17550
b) Misscelaneous
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