A construction company has spent $23,560 on a new project. The project's budget was $20,000. How much of the budget have they spent?

Question

Quizplus · Accepted Answer

We can use the percent formula to solve. The percent formula is below: ^part⁄_whole = ^%⁄₁₀₀ We are given the part ($23,560 spent) and the whole ($20,000 budget), and asked to calculate the percent. We don't know the percent, so that is where we will put our variable (x): ^part⁄_whole = ^%⁄₁₀₀ ²³⁵⁶⁰⁄₂₀₀₀₀ = ^x⁄₁₀₀ Cross multiply and solve for x: ²³⁵⁶⁰⁄₂₀₀₀₀ = ^x⁄₁₀₀ 20,000 * x = 23,560 * 100 20,000x = 2,356,000 20,000x/20,000 = 2,356,000/20,000 x = 117.8 So, $23,560 is 117.8% of $20,000

A Construction Company Has Spent $23,560 on a New Project