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# Last month, Jake's credit card balance increased from $5,005 to$5,775

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Intern
Joined: 22 Sep 2010
Posts: 9
Last month, Jake's credit card balance increased from $5,005 to$5,775  [#permalink]

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15 Nov 2010, 06:53
00:00

Difficulty:

15% (low)

Question Stats:

94% (01:49) correct 6% (02:03) wrong based on 27 sessions

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Last month, Jake's credit card balance increased from $5,005 to$5,775. At the end of the month, Jake's balance represented 77% of his credit card limit. What was the difference between Jake's limit and his balance at the beginning of the month?

a) 2495
b) 2900
c) 2950
d) 3200
e) 3400

_________________

tejh

Manager
Joined: 03 Sep 2010
Posts: 64
Location: Israel
GMAT 1: 660 Q47 V34
GMAT 2: 670 Q48 V34
GPA: 3.2
WE: Operations (Non-Profit and Government)
Re: Last month, Jake's credit card balance increased from $5,005 to$5,775  [#permalink]

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15 Nov 2010, 08:22
This si not a 700 Q, may be 600-700.

77% = 5775 --> 100% = 7500
7500-5005= 2495
Director
Joined: 04 Dec 2015
Posts: 701
Location: India
Concentration: Technology, Strategy
Schools: ISB '19, IIMA , IIMB, XLRI
WE: Information Technology (Consulting)
Last month, Jake's credit card balance increased from $5,005 to$5,775  [#permalink]

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30 Jun 2017, 01:03
tejhpamarthi wrote:
Last month, Jake's credit card balance increased from $5,005 to$5,775. At the end of the month, Jake's balance represented 77% of his credit card limit. What was the difference between Jake's limit and his balance at the beginning of the month?

a) 2495
b) 2900
c) 2950
d) 3200
e) 3400

Let Jake's Credit card limit be $$= x$$

Jake's credit card balance at the beginning of the month $$= 5,005$$

Jake's credit card balance increased to $$= 5,775$$

Jake's credit card balance increase represents 77% of his credit card limit $$= 77$$% of $$x$$$$= 5,775$$

$$\frac{77}{100} * x = 5775$$

$$x = \frac{5775 * 100}{77} = 7,500$$

Therefore Jake's credit card limit $$= 7,500$$

Difference between Jake's credit card limit and his balance at the beginning of the month $$= 7500 - 5005 = 2,495$$

Last month, Jake's credit card balance increased from $5,005 to$5,775 &nbs [#permalink] 30 Jun 2017, 01:03
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# Last month, Jake's credit card balance increased from $5,005 to$5,775

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