Question

Compute the total cost per year of the following pair of expenses. Then complete the sentence. On an annual basis, the first set of expenses is % of the second set of expenses Vern buys eight lottery tickets each week at a cost of $3 each and spends $700 per year on his textbooks. On an annual basis, the money spent on lottery tickets is Џ90 of the money spent to buy textbooks. (Round to the nearest percent as needed.)

Answer 1

SOLUTION:

From given data,

Vern buys eight lottery tickets each week at a cost of $3 each and spends $700 per year on his textbooks.

Here we have,

Vern buys eight lottery tickets each week at a cost of $3 each and spends $700 per year on his textbooks. then

Since 1 year has 52 weeks,therefore the annual expenses on lottery ticket is

Each week at a cost = $3

The annual expenses on lottery ticket = $3 * 52

The annual expenses on lottery ticket = $156   

Also , note that

spends per year on his textbooks  = $700

Annual expense on textbooks = $700

Find the percentage as follows

      (156/700)*100 = 15600/700 = 22.28%

Approximate 22%

on an annual basis, the money spend on lottery ticket is 22% of the money spent to buy text books.

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