Question

An electricity company estimates that Daryl will spend £840 on electricity next year.

An administration charge of 15% is added.
Daryl wants to pay in four equal instalments throughout the year,
How much should each payment be?

Answer 1

To figure this out, work out your percentages first.

100% (Electric bill) + 15% (Fee) = 115%

Find 1%
£840/100 = £8.40 (1%)

Multiply by 115

£8.40 x115 = £966 (115% Total Bill)

£966/4 = £241.50

So each payment should be £241.50

Answer 2

241.5 pounds

Explanation:

840 + 15% = 966 (pounds)

966/4 = 241.5 (pounds)