In 2007,the top 1 percent owned 34.6 percent of the wealth,the next 19 percent owned ___ percent and the "bottom" 80 percent (that is,most Americans)owned only __ percent

Question

Quizplus · Accepted Answer

According to the statement, the top 1 percent owned 34.6 percent of the wealth. 
So, the remaining wealth is owned by the next 99 percent which is 100 - 34.6 = 65.4 percent. 
Out of this 65.4 percent, the next 19 percent owned a certain percentage of the wealth. Let's assume it to be x. 
So, the remaining percentage of wealth owned by the "bottom" 80 percent is 65.4 - x. 
According to the statement, this is equal to 80 percent. 
Therefore, 65.4 - x = 80 percent or 0.8 (as a decimal). 
Solving for x, we get x = 65.4 - 0.8 = 50.5 percent (rounded to one decimal place). 
Therefore, the answer is (A) 50.5, 15.

In 2007,the Top 1 Percent Owned 34