Question

You have a $1,475 annual budget for spending onsocial media. The budget increases by 20% forDecember. What is your budget for the month ofDecember?

Answer 1

We have an original annual original budget of $1475. For each month of the year, we have then:

$m=\frac{1475}{12}\approx122.92$

Thus, we have for each month, a monthly budget of $122.92 for spending on social media.

However, in December this budget was increased by 20%, then:

$122.92\cdot\frac{20}{100}=24.58$

Then the budget for the month of December is:

$BD=122.92+24.58\Rightarrow BD=147.5$