If you write a check without enough money in the bank, a certain store will charge you a penalty if the check is returned to them from the bank. The penalty is 5% of the amount of the check plus a $10 processing fee. Let n= the amount of the check and p the amount of the penalty fee. How much was the check if the penalty fee was $16?
I do not know how to figure this out.
okay so set it up as an equation.
first subtract the processing fee from the penalty fee. there fore, fee = 6
we now know that 6 is 5% of the check.
there fore do a ratio to find the answer which = x
6 x
- x - = x= 120
5 100
the check was initally $120
in an equation write:
16-10= 6 total fee
then do ratio above don't know how to set up as equation...
sorry the ratio is confusing I cross multiplied 6 by 100 and 5 by x then solved for x. Hope this helps =)
Fee = .05n + 10
so if Fee = 16
16 = .05n + 10
.05n = 6
n = 6/.05 = ....
To find the amount of the check, we can set up an equation using the given information.
Let's use the variables:
n = amount of the check
p = penalty fee
According to the information provided, the penalty fee is calculated as 5% of the amount of the check, plus a $10 processing fee. Therefore, we have the equation:
p = 0.05n + 10
Substituting the given penalty fee of $16 into the equation, we have:
16 = 0.05n + 10
To solve for n, we can subtract 10 from both sides of the equation:
16 - 10 = 0.05n
Simplifying:
6 = 0.05n
To isolate the variable n, we need to divide both sides of the equation by 0.05:
6 ÷ 0.05 = n
This gives us:
120 = n
So the amount of the check was $120.