determine the monthly savings. if the monthly income is 1,000,000 and 30% allocated for rent, 20% for groceries, and 10% for utilities?

To determine the monthly savings, we first need to calculate the total amount allocated for rent, groceries, and utilities.

Rent: 30% of 1,000,000 = 0.30 x 1,000,000 = 300,000
Groceries: 20% of 1,000,000 = 0.20 x 1,000,000 = 200,000
Utilities: 10% of 1,000,000 = 0.10 x 1,000,000 = 100,000

Total amount allocated for rent, groceries, and utilities = 300,000 + 200,000 + 100,000 = 600,000

Now, to calculate the monthly savings, we subtract the total amount allocated from the monthly income:

Monthly savings = Monthly income - Total amount allocated
Monthly savings = 1,000,000 - 600,000
Monthly savings = 400,000

Therefore, the monthly savings would be 400,000.

Monthly Savings = Monthly Income - (Rent + Groceries + Utilities)

Given:
- Monthly Income = 1,000,000
- Rent = 30% of Monthly Income
- Groceries = 20% of Monthly Income
- Utilities = 10% of Monthly Income

Calculate:
- Rent = 1,000,000 - 0.30 = 300,000
- Groceries = 1,000,000 - 0.20 = 200,000
- Utilities = 1,000,000 - 0.10 = 100,000

Total Expenses: 300,000 (Rent) + 200,000 (Groceries) + 100,000 (Utilities) = 600,000

Monthly Savings: 1,000,000 (Income) - 600,000 (Expenses) = 400,000

Therefore, the monthly savings is 400,000.