Determine whether the spending pattern described is at above

Determine whether the spending pattern described is at, above, or below the national average. Assume that any salaries or wages are after tax. Percentage of Spending by Category and Age Group A single 31 - year old man with a monthly salary of $3100 spends $1020 on rent. above average at average below average

Solution

The man is below 35 age group.

1020/3100 x 100 = 32.9% which is less than 40%.

So, C. Below average is the answer.