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11 Oct 2019, 05:01
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
74% (02:16) correct
26%
(02:16)
wrong
based on 1507
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At the end of each year, a certain credit card company pays a bonus to each of its credit card holders based on the amount, up to $10,000, that the cardholder charged throughout the year. A 0.5 percent bonus is paid on the first $1,000 charged, a 1.0 percent bonus is paid on the next $2,000 charged and so on, as indicated in the table above. What is the maximum annual bonus, in dollars?
A. $100
B. $150
C. $200
D. $250
E. $500
Attachment:
1444716941986417.png [ 6.52 KiB | Viewed 19784 times ]
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11 Oct 2019, 07:18
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Bunuel
Maximum Annual bonus will be when we are charged all up to the maximum amount. Hence,
=> (0.5 % of 1000) + (1 % of 2000) + (1.5 % of 3000) + (2% of 4000)
=> 5 + 20 + 45 + 80
=> 150
IMO B
General Discussion
12 Oct 2019, 17:11
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Bunuel
We see that a cardholder who is charged $10,000 (or more) will get the maximum annual bonus.
For the first $1,000, the cardholder earns 1000 x 0.005 = $5.
For the charges between $1,000 and $3,000, the cardholder earns 2000 x 0.01 = $20.
For charges between $3,000 and $6,000, the cardholder earns 3000 x 0.015 = $45.
Finally, for charges between $6,000 and $10,000, the cardholder earns 4000 x 0.02 = $80.
In total, a maximum bonus of 5 + 20 + 45 + 80 = $150 can be earned if the cardholder is charged $10,000 (or more).
Answer: B
