Question

8. The table shows the monthly expenditure (in percentage) of Mr. Okafor's salary.
Item: Food and drinks, Fuel, Rent, Building Project, Education, Savings
Percentage (%): 35, 7.5, 10, 15, 17.5, x
(a) Calculate the percentage of Okafor's salary that was put into savings.
(b) Illustrate the information on a pie chart.
(c) If Mr. Okafor's annual gross salary is $28,800.00 and he pays tax of 12%, calculate: (i) monthly income tax; (ii) monthly net salary and the amount saved each month.

Accepted Answer

(a) Total of known percentages = 35+7.5+10+15+17.5 = 85. Savings % = 100−85 = 15%.

(b) Pie chart angles: Food/drink = (35/100)×360°=126°; Fuel=(7.5/100)×360°=27°; Rent=(10/100)×360°=36°; Building Project=(15/100)×360°=54°; Education=(17.5/100)×360°=63°; Savings=(15/100)×360°=54°.
[Pie chart drawn with these six sectors labelled accordingly.]

(c)(i) Monthly gross salary = $28,800/12 = $2,400.
Monthly income tax = 12% × 2,400 = $288.0 (per source: 12% × 28,800 annual ÷12 = $3,456 annual tax ÷12 = $288/month).

(ii) Monthly net salary = (28,800−3,456)/12 = $2,112.
Amount saved each month = 15% × 2,112 = $316.80.

WAEC Mathematics 2022 Theory — Question 8

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