C. you have a deficit of 1000
Explanation:
We say that we have a surplus when the net income is more than the total expenses, while we say that we have a deficit when the net income is less than the total expenses.
In this case, the net income is 1500, which is less than the total expenses (2500): so, we have a deficit. In order to calculate the deficit, we can use the formula
deficit = total expenses - net income
Substituting the data of the problem, we find
deficit = 2500 - 1500 = 1000
Answer:
The correct answer is option C, you have a deficit of 1000
Step-by-step explanation:
The net monthly income of a person = 1500
The total monthly expenses = 2500
Thus, the expenditure is more than the income
The difference between the net monthly income and the expenditure = 2500 -1500 = 1000
Here 1000 units of currency are required to meet the expenses. Thus, it can be said there is a deficiency of 1000 unit currency
Or,
1000 unit of currency is deficit to the net monthly income.
