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# How much did credit-card fraud cost United States banks in year X to

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Board of Directors
Joined: 01 Sep 2010
Posts: 3402
How much did credit-card fraud cost United States banks in year X to  [#permalink]

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26 Jul 2017, 08:51
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7
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Difficulty:

5% (low)

Question Stats:

81% (01:06) correct 19% (01:12) wrong based on 511 sessions

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How much did credit-card fraud cost United States banks in year X to the nearest \$ 10 million?

(1) In year X, counterfeit cards and telephone and mail-order fraud accounted for 39 percent of the total amount that card fraud cost the banks.

(2) In year X, stolen cards accounted for \$ 158.4 million, or 16 percent, of the total amount that credit-card fraud cost the banks.

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Joined: 11 Feb 2017
Posts: 182
Re: How much did credit-card fraud cost United States banks in year X to  [#permalink]

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08 Aug 2017, 08:41
carcass wrote:
How much did credit-card fraud cost United States banks in year X to the nearest \$ 10 million?

(1) In year X, counterfeit cards and telephone and mail-order fraud accounted for 39 percent of the total amount that card fraud cost the banks.

(2) In year X, stolen cards accounted for \$ 158.4 million, or 16 percent, of the total amount that credit-card fraud cost the banks.

B) Wins

A ) There can b more other type of frauds which are not mentioned....So can't calculate

B) 16% is 158.4 million dollars.. we can calculate total credit card fraud
Intern
Joined: 01 Jul 2018
Posts: 5
Re: How much did credit-card fraud cost United States banks in year X to  [#permalink]

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17 Jul 2018, 01:51
Hi carcass

What does this phrase mean below?

"to the nearest \$ 10 million"

carcass wrote:
How much did credit-card fraud cost United States banks in year X to the nearest \$ 10 million?

(1) In year X, counterfeit cards and telephone and mail-order fraud accounted for 39 percent of the total amount that card fraud cost the banks.

(2) In year X, stolen cards accounted for \$ 158.4 million, or 16 percent, of the total amount that credit-card fraud cost the banks.
Board of Directors
Joined: 01 Sep 2010
Posts: 3402
Re: How much did credit-card fraud cost United States banks in year X to  [#permalink]

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17 Jul 2018, 04:20
Top Contributor
read here https://www.helpingwithmath.com/by_subj ... rest10.htm

it is very informative. Hope this helps.

Regards
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Posts: 12467
Re: How much did credit-card fraud cost United States banks in year X to  [#permalink]

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08 Aug 2019, 03:58
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Re: How much did credit-card fraud cost United States banks in year X to   [#permalink] 08 Aug 2019, 03:58
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# How much did credit-card fraud cost United States banks in year X to

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