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Karyn uses a certain credit card that sends her a monthly [#permalink]
05 Nov 2005, 10:12

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Difficulty:

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Question Stats:

0% (00:00) correct
0% (00:00) wrong based on 2 sessions

Karyn uses a certain credit card that sends her a monthly
rebate of 2% of all of her purchases. In a certain year,
Karyn received an average (arithmetic mean) rebate of $9 a
month. What was the total amount of Karyn's purchases on the
credit card that year?

OA is A and here is the detailed explanation for other's benefit:

We first need to determine how much of a rebate Laura spent
during the year.

Mean = (sum of all values) / (number of values)

$9 = (sum of all values) / 12
$108 = (sum of all values)

Thus, she received a total rebate of $108 for the year. This
means that $108 was 2% of her purchases for the year. We can
now set up the following equation: