Question

John didnt have money for a game system, so he bought it with his credit card. he paid for it monthly over the course of a year. The $350.00 game system ended up costing $429, What percentage of the game system price did he pay in interest?

Answer 1

percentage of interest = 22.6% (to one decimal place)

Explanation:

actual price paid (including interest) = 429, out of which

interest = 429-350 = 79

Percentage of interest out of actual price paid

= 79/429* 100%

= 22.6%