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Rainbow [258]
4 years ago
15

General Product Inc. distributed 100 million coupons in 2016. The coupons are redeemable for 30 cents each. General anticipates

that 70% of the coupons will be redeemed. The coupons expire on December 31, 2017. There were 45 million coupons redeemed in 2016 and 30 million redeemed in 2017. What was General's coupon promotional expense in 2017?
Mathematics
1 answer:
Pachacha [2.7K]4 years ago
8 0
Hello,

We want to find out the value of all the coupons redeemed in 2017. If there were 30 million coupons redeemed in 2017 and each coupon is worth 30 cents, we multiply 30 million coupons and 0.30 dollars to get the value of coupons. (We use 0.30 dollars as multiplying by 30 will give us the amount in cents, not dollars)

So, we have:
30,000,000 * 0.30 = 9,000,000

General's coupon promotional expense in 2017 is 9 million dollars.

Hope this helps!
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