(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 [ 63.67 KiB | Viewed 16645 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 [ 63.75 KiB | Viewed 16637 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 [ 63.7 KiB | Viewed 16616 times ]
Answer: Miscellaneous Cheers,
Brent
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Brent Hanneson - founder of Greenlight Test Prep