Question

Leigh earns $1,345.63 per month and budgets 22% of her income for utilities. How much does she spend for utilities?

Answer 1

`$296.04` rounded to 2 decimal places

Explanation:

`color(blue)("The teaching bit")`

Two things you should know.

Point 1:
Percentage is basically just a fraction. What makes it special is that the denominator ( bottom number ) is fixed at 100.

Point 2:
Consider the given percentage in the question of 22%
There are two ways of writing percentage and the both mean THE SAME THING.

So on the one hand we have: `color(white)("d.d")22/100-> color(white)("d")22color(white)("d")ubrace(xx1/100)`
`color(white)("ddddddddddddddddddddddddd")darrcolor(white)("ddd.d")darrcolor(white)("d.d")darr`
And on the other hand we have: `color(white)("d")22% -> 22 color(white)("...d")%`

As these are BOTH THE SAME THING then `%` must mean `xx1/100` including the multiply sign.

In mathematics cross for multiply means 'of'.
Like in 2 of apples `->2xx"apples"`

Like 2 of 6 `->2xx6->6+6`
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
`color(blue)("Answering the question")`

`ubrace(22%)color(white)("dd.d")ubrace(" of ")color(white)("d")$1,345.63`
`color(white)("d")darrcolor(white)("d.dddd")darrcolor(white)("ddddd")darr`
`22xx1/100color(white)("d")xxcolor(white)("dd")$1,345.63`

`22/100xx$1,345.63= $296.0386larr` Exact value

`$296.04` rounded to 2 decimal places

You should always declare the level of rounding