Solve the problem. A collection agency specializing in collecting past-due comme

Question

Solve the problem.

A collection agency specializing in collecting past-due commercial invoices charges $27 as an application fee plus 14% of the amount collected. What is the total charge for collecting $3400 past-due commercial invoices?

;

$503

$24

$476

$270

Solve for rate in the problem. Round to the nearest tenth of a percent.

$980 is ____________% of $1954.

;

0.5

0.1

50.2

199.4

Supply the missing numbers. Round decimals to the nearest thousandth and percents to the nearest tenth of a percent.

fraction decimal percent
0.583

;

7/12 58.3%

1/2 58.3%

7/12 5.83%

1/2 5.83%

;

$503

$24

$476

$270

Explanation / Answer

part1:- Total application charge = application fee ($27) + 14% of amount collected

given that, amount collected = $3400

so total charge = 27 + 14/100(3400)

= 27 + 476 = 503

so option 1st is correct that is $503

PART 2:- Let 980 is X% of 1954,

so, 980*(X/100) = 1954

X/100 = 1954/980 = 0.5015

X = 0.5015*100 = 50.15, nearest tenth percentage is 50.20

So, option 3rd is correct that is 50.2

PART 3:- Given fraction decimal = 0.583

By eliminating decimal = 583/1000 = 7/12 (missing number),

And for percent ( multiplication of 100 in to decimal) = 0.583*100 %

=58.3%

so option 1st is correct that is 7/12 and 58.3%

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