Question

A family has an annual income of $30,600 of this, 1/4 is spent for food, 1/5 for housing, 1/10 for clothing, 1/9 for saving, 1/4 for taxes, and the rest for other expenses. How much is spent for taxes?

Answer 1

SOLUTION

Step1: Write out the Information given

$\begin{gathered} \text{Total annual income=\ 30,600} \\ \text{Fraction spent on food=}\frac{1}{4} \\ \text{Fraction for housing=}\frac{1}{5} \\ \text{Fraction on clothing=}\frac{1}{10} \\ \text{Fraction on saving =}\frac{1}{9} \\ \text{Fraction on taxes=}\frac{1}{4} \end{gathered}$

Step 2: Calculate the amount spend on taxes,

we have

$\text{Amount spend for taxes =fraction of taxes}\times annual\text{ income}$

Then we have

$\begin{gathered} \text{Amount spend on taxes=}\frac{1}{4}\times30,600 \\ \text{Amount spend on taxes=}\frac{30,600}{4} \\ \text{Amount spend on taxes=}7650 \end{gathered}$

Therefore

The amount spend on taxes is 7650