Question

A cash withdrawal of R5000 was made at signet blue on the 20/05/2019.Calculate what percentage the withdrawal fee is of the transaction amount

Answer 1

Answer: 1%

Explanation:

Question is incomplete as it lacks the details of the withdrawal fee.

We shall assume one so that we can use it for calculation so that you can understand the methods.

Assume withdrawal fee of R50.

The withdrawal amount was R5,000 and the cost to withdraw was R50.

The percentage of the withdrawal fee in relation to the total amount is:

= Withdrawal amount / Total amount * 100%

= 50 / 5,000 * 100%

= 1%