Question

Your checking account balance is $225. You received a “bounced” check and your bank has charged you a penalty fee of $35. What percent of your balance did the penalty cost

Answer 1

Answer: 15.56%

Step-by-step explanation:

Given : Your checking account balance is $225.

i.e. Account balance= $225

You received a “bounced” check and your bank has charged you a penalty fee of $35.

i.e.Penalty fee= $35

Now, the percent of your balance the penalty cost :-

$\dfrac{\text{Penalty fee}}{\text{Account balance}}\times100\\\\=\dfrac{35}{225}\times100=15.5555555556\approx15.56\%$

Hence, the  penalty cost 15.56% of your balance .