Question

A company that owed $2,000 paid early and got a $40 discount. What fraction of the amount owed was the discount?

Answer 1

A company that owed $2,000 paid early and got a $40 discount. What fraction of the amount owed was the discount?

we have that

$2,000 represent the 100%

so

Applying proportion

Find out how much percentage represent $40

100/2,000=x/40

solve for x

x=(100/2,000)*40

x=(1/20)*40

x=40/20

x=2%

2%=2/100=1/50

the fraction is 1/50