Percent of earnings spent on electricity each month is 3.1 %
Solution:
Given that Ramon earns $1,715 each month and pays $53.40 on electricity
To find: Percent of earnings spent on electricity each month
From given information,
Ramon's monthly salary = $ 1715
Electricity Rent = $ 53.40
Finding percentage of earnings spent on electricity:
Percent of earnings spent on electricity = [tex]\frac{\text{ electricity rent}}{\text{ monthly salary}} \times 100[/tex]
Substituting the values we get,
[tex]\rightarrow \frac{53.40}{1715} \times 100\\\\\rightarrow 0.031137 \times 100 = 3.113 \approx 3.1[/tex]
Thus Percent of earnings spent on electricity each month is 3.1 %
