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

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

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New post 12 Jun 2019, 02:03
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Question Stats:

74% (02:08) correct 26% (02:53) wrong based on 19 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

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Re: Last month, Jake's credit card balance increased from $5,005 to $5,775  [#permalink]

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New post 12 Jun 2019, 02:37
Bunuel 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


5775/77*100=7500; 7500-5005=2495$ IMO A
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Re: Last month, Jake's credit card balance increased from $5,005 to $5,775  [#permalink]

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New post 12 Jun 2019, 03:33
Bunuel 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


If I understand this correctly and am not missing out on anything, then $5775 is 77% of the credit card limit, which gives us the credit limit to be $7500 ( 5575 is 77% of x (and then calculating x))

Now, $7500 - $5005 is our answer, IMO A. 2495
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Re: Last month, Jake's credit card balance increased from $5,005 to $5,775   [#permalink] 12 Jun 2019, 03:33
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Last month, Jake's credit card balance increased from $5,005 to $5,775

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