Question

Emily's credit card has arrived and she has a balance of $2,350. She only has enough money to pay off $1500. She knows she will have to pay 8% interest on whatever she doesn't pay off. Which proportion should she use to determine how much interest she will have to pay?

Answer 1

850 × 8/100

Explanation:

Balance in Emily's card = $2,350

Amount paid by Emily = $1,500

Therefore, the amount not paid by her = $2,350 - $1500

= $80.

Also, the interest on the amount not paid = 8% = 8/100

Hence, the proportion representing the interest payable by her is represented by;

Proportion = Amount she does not pay off × Interest paid

= 850 × 8/100

Therefore, the required proportion is 850 × 8/100