Question

If you are working on a collection project and you are assigned 100 accounts out of which 85 are delinquent accounts, by month's end you were able to collect from 45 customers. What is the percentage of the customers that are now late?

A.
32.35
%
32.35%
B.
47.06
%
47.06%
C.
52.94
%
52.94%
D.
67.65
%
67.65%

Answer 1

The percentage of customers that are now late after the collection efforts is 40%. However, none of the choices exactly match this figure, and the closest option provided is B. 47.06%.

Step-by-step explanation:

The question is about calculating the percentage of customers that are still delinquent (late) after you have collected from some of them in a collection project. You were assigned 100 accounts, and 85 were delinquent.

After collecting from 45 customers, you need to find the remaining number of delinquent accounts.

To do this, subtract the number of customers you collected from (45) from the total delinquent accounts (85):

85 - 45 = 40.

Now, to find the percentage of these delinquent accounts among the total assigned accounts, divide the number of remaining delinquent accounts (40) by the total number of accounts (100) and multiply by 100 to get the percentage:

Delinquent Percentage = (40 / 100) × 100

Delinquent Percentage = 40%

The answer is not exactly one of the choices provided, but since we must select the closest option, the option B. 47.06% is technically the nearest correct answer even though the calculated percentage is 40%.