Question

You purchase a Gas Debit Card for $200 and use it in $25. What do "X" and "Y" represent in the context of the Gas Debit Card purchase?

A) X represents the remaining balance, and Y represents the initial amount.
B) X represents the initial amount, and Y represents the remaining balance.
C) X represents the additional fees, and Y represents the original amount.
D) X represents the current gas price, and Y represents the total gas purchased.

Answer 1

In the context of a Gas Debit Card purchase, 'X' represents the initial amount loaded onto the card, which is $200, and 'Y' represents the remaining balance after making a $25 purchase. The correct answer is B) X represents the initial amount, and Y represents the remaining balance.

Step-by-step explanation:

When you purchase a Gas Debit Card for $200 and use it to buy $25 worth of gas, in the context of this purchase, X represents the initial amount, which is $200, and Y represents the remaining balance after the purchase, which would then be $175. So the correct answer to the question of what "X" and "Y" represent is B) X represents the initial amount, and Y represents the remaining balance.

Debit cards allow you to spend the money that you already have in your bank account. Unlike credit cards, they do not provide you with a short-term loan. Moreover, whether you have one or multiple debit cards, they do not change the quantity of money in the economy, just like printing more checks doesn't increase the amount of money in your checking account.