The new food budget is $400, the difference in the savings is $50 and the amount of money saved now is $2700.
An equation is a mathematical statement formed when two algebraic expressions are equated using an equal sign.
The equations are useful in determination of unknown parameters.
The Porter family has a net income of $5000.
The food budget of the family is $450
The budget is reduced by $50
The new food budget is $450 - $50
The new food budget is $400
Initially they used to save,
= $5000 - $450- $1900
= $2650
Now as the expense has been reduced by $50,
The new savings will be,
= $2650 + $50
= $2750
It seems that your question is incomplete, the complete question is :
The Porter family has a net income of $5,000. They have a monthly food budget of $450 and $1900 is extra expenses, If they want to reduce their food budget by $50, how much would the new food budget be and what will be the difference in the savings.
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