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Mathematical Excursions (MindTap C...

4th Edition
Richard N. Aufmann + 3 others
ISBN: 9781305965584

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BuyFindarrow_forward

Mathematical Excursions (MindTap C...

4th Edition
Richard N. Aufmann + 3 others
ISBN: 9781305965584
Textbook Problem

A credit card company offers an annual 2 % cash-back rebate on all gasoline purchases. If a family spent $ 6200 on gasoline purchases over the course of a year, what was the family’s rebate at the end of the year?

To determine

To calculate: The family’s rebate at the end of the year, if a family spent $6,200 on gasoline purchases and a credit card company offers an annual 2% cash-back rebate on all gasoline purchases.

Explanation

Given Information:

Total amount spent on gasoline purchases, base: $6,200

Cash-back rebate on gasoline purchases, percent: 2%

Formula used:

Proportion used to solve percent problems:

Identify the percent, the base and the amount for calculation,

  percent100=amountbase

Calculation:

Consider percent to be 2% , the total amount spent on gasoline purchases as the base to be $6,200 and the statement for the word problem would be as 2% of what amount will be the family’s rebate,

  percent

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