Subjects financial math

Pension Percentage

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Pension Percentage


1. The problem asks for the percentage of Lorraine Booi's monthly gross income that she contributes to her pension. 2. Given data: - Monthly gross income = 34533.25 - Monthly pension contribution = 3798.66 3. To find the percentage of her salary going to her pension, we use the formula: $$\text{Percentage} = \left(\frac{\text{Pension contribution}}{\text{Gross income}}\right) \times 100$$ 4. Substitute the values: $$\text{Percentage} = \left(\frac{3798.66}{34533.25}\right) \times 100$$ 5. Calculate the ratio: $$\frac{3798.66}{34533.25} \approx 0.1100$$ 6. Multiply by 100 to get the percentage: $$0.1100 \times 100 = 11.0\%$$ 7. Rounded to one decimal place, the percentage of her salary that goes to her pension is **11.0%**.