matrixebiz
New member
- Joined
- Jan 14, 2015
- Messages
- 13
Hello, I'm hoping someone can help me create an equation out of the below word problem.
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A couple living together have a combined bill payment of $1600.
Jane makes a wage of $2900 a month and John makes a wage of $2000 a month.
To make it fair John should pay a bit less percentage of his wage (being the lesser income maker) towards the bill so they have an equal amount percentage of income at the end of the month left over.
Based on their income ratio, what percentage of their monthly income should they pay towards the bill?
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Doing some simple math, it would be fair to say that they each should pay approximately 33% of ones income a month which will leave each 66% in pocket.
But I'm looking to get this into a formula so that if any of the values change IE: Wage or Bill amount or Both, I can then quickly work out the percentage they each need to pay to make it fair based on separate/different income amount. Thank you
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A couple living together have a combined bill payment of $1600.
Jane makes a wage of $2900 a month and John makes a wage of $2000 a month.
To make it fair John should pay a bit less percentage of his wage (being the lesser income maker) towards the bill so they have an equal amount percentage of income at the end of the month left over.
Based on their income ratio, what percentage of their monthly income should they pay towards the bill?
-------------------------------------------------------------------------------------------------------------------------------------
Doing some simple math, it would be fair to say that they each should pay approximately 33% of ones income a month which will leave each 66% in pocket.
But I'm looking to get this into a formula so that if any of the values change IE: Wage or Bill amount or Both, I can then quickly work out the percentage they each need to pay to make it fair based on separate/different income amount. Thank you