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Insurance Plan A requires the patient to pay up to the first $1,600 of

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Insurance Plan A requires the patient to pay up to the first $1,600 of  [#permalink]

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New post 23 Jun 2020, 05:47
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A
B
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D
E

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  35% (medium)

Question Stats:

82% (01:56) correct 18% (01:37) wrong based on 11 sessions

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Insurance Plan A requires the patient to pay up to the first $1,600 of any hospital bill plus 12% of the remainder of the bill. Insurance Plan B requires the patient to pay the entire amount of any hospital bill under $2,000; for hospital bills of at least $2,000, the patient pays $2,000 plus another 8% of the entire amount. The patient would pay the same under either insurance plan for hospital bills of which of the following amounts?

I. $1,280
II. $1.600
III. $1,840

A. I only
B. II only
C. I and II only
D. II and III only
E. I, II, and III

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Re: Insurance Plan A requires the patient to pay up to the first $1,600 of  [#permalink]

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New post 23 Jun 2020, 06:38
Insurance Plan A requires the patient to pay up to the first $1,600 of any hospital bill plus 12% of the remainder of the bill.

Insurance Plan B requires the patient to pay the entire amount of any hospital bill under $2,000; for hospital bills of at least $2,000, the patient pays $2,000 plus another 8% of the entire amount.

The patient would pay the same under either insurance plan for hospital bills of which of the following amounts?

I. $1,280
Insurance A Amount = 1280
Insurance B amount = 1280 (matching)

II. $1.600
Insurance A Amount = 1600
Insurance B amount = 1600 (matching)

III. $1,840
Insurance A Amount = 1600+12%of240 = 1600+28.8 = 1628.8
Insurance B amount = 1840 (Not matching)

Only statement 1&2 are matching

IMO C

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Re: Insurance Plan A requires the patient to pay up to the first $1,600 of   [#permalink] 23 Jun 2020, 06:38

Insurance Plan A requires the patient to pay up to the first $1,600 of

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