A family spends 20% of its monthly income on food, 23% on rent, and 42% on other expenses and saves the balance. If the family saves \( \$360 \)per month, what is its monthly income?

Explanation

Expenditures: 20% + 23% + 42% = 85%
Savings: 100% - 85% = 15%
Let x = family's monthly income. Then \(0.15 x=\$ 360\), so \(x=\$ 360 / 0.15=\$ 2,400\)

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