Mavungu B.

asked • 03/07/18

What was the total amount collected?

Randy's Rental hired the Friendly Collection Agency to collect debts totaling $12,750. The agency collected 70% of the accounts and charged 15% commission for them. What was the amount collected? The alternatives are as follows a.$ 12,750 , b. $10,837.50, c. $8,925 and d.$3,825

1 Expert Answer

By:

Larry C. answered • 03/07/18

Tutor
4.9 (294)

Computer Science and Mathematics professional

See tutors like this
See tutors like this
Since they collected 70% of the total debt, they collected 12750 * 0.7 or 8925
Upvote • 0 Downvote
More
Report

Mavungu B.

Sir thank you for your time but I am still confused should I choose 12750 or 8925 which one of them is the best answer.
Report

03/07/18

Larry C.

Since they only collected 70% of the total, it couldn't be 12750. The question states 'collected' which implies the amount they took in, not necessarily what they kept. I feel the 15% commission detail is only there as a red herring.
Report

03/08/18

Mavungu B.

In short the correct answer is 8925 right. Thank you for your help.
Report

03/09/18

Mavungu B.

In short the answer is 8925. Thank you for your help sir.
Report

03/09/18

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.