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Percentage Problem 2

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Percentage Problem 2

by raunakrajan » Wed Jun 30, 2010 12:06 am
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?

[spoiler]$2495[/spoiler]
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by albatross86 » Wed Jun 30, 2010 12:09 am
Initial balance = 5005
Final balance = 5775

Final balance = 77% of credit card limit

=> 5775 = 77/100 * L

=> L = 7500

The limit is not going to change, it would have been the same last month too.

So L - Initial balance = 7500 - 5005

= 2495$
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