15
QuizMultiple Choice

Gross Pay vs. Net Pay

Question 15 • SHS Alt Personal Finance - 2021

The total amount of deductions from an employee’s gross pay is $97.45. If the gross pay is $423.70, what percent of their gross pay is being withheld?

Answer
A
21%
B
22%
C
23%
D
24%

Explanation

To find the percent withheld, divide the deductions by the gross pay and multiply by 100: ($97.45 ÷ $423.70) × 100 ≈ 23%. Therefore, about 23% of the gross pay is being withheld, which is choice c.

AI-written and checked against the verified answer.

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