The amount he should put in the college savings account [tex]\bold{ \$308}[/tex]
Solution:
Given, income of Mark = [tex]\$ 2200[/tex]
Percentage of amount in college savings account = [tex]14 \%[/tex]
To find: The amount he should put in the college savings account
This can be solved in two methods as follows:
Method 1:
As given, Mark puts [tex]14\%[/tex] of the total amount in the account
i.e. [tex]14\% \ of \ 2200 \Rightarrow \frac{14}{100}\times 2200[/tex]
On solving,
[tex]\Rightarrow \frac{30800}{100} = \$ 308[/tex]
Method 2:
So, here assume that 100 corresponds to 2200
As given, Mark puts [tex]14\%[/tex] of the total amount in the account
[tex]i.e. 100\times22=2200[/tex]
[tex]\therefore 14\times22=308[/tex]
Hence, the amount is [tex]\$308[/tex]
