Please I really need help with this question? It's very important.The Pay-up Collection Agency charged 30% commission. Last week, they paid the Elegant Earthworm Farm $4,802 on collected accounts. What amount was collected?
What the question is asking is what total amount of unpaid accounts did Elegant Earthworm Farm have in the beginning that Pay-up collection Agency got back for them. If Pay-up charges a fee or commission of 30% and took that off the top of collected money on behalf of Elegant Earthworm Farm's , then find that original amount? So basically, of the total amount of money Pay-up got 30% and Elegant got 70% of their money which equaled $4,802. I need to find the difference. So in short, what is the difference?
What the question is asking is what total amount of unpaid accounts did Elegant Earthworm Farm have in the beginning that Pay-up collection Agency got back for them. If Pay-up charges a fee or commission of 30% and took that off the top of collected money on behalf of Elegant Earthworm Farm's , then find that original amount? So basically, of the total amount of money Pay-up got 30% and Elegant got 70% of their money which equaled $4,802. I need to find the difference. So in short, what is the difference?
1 Answer
6860 dollars is the original amount
Explanation:
So from what I understood you want to know what 30% represents in money in which case we apply the following ( if it's not this you're searching for then I think this helps anyway).
So I usually like to figure out what 1% is first to we know 70% = 4.802. So we divide 4.802 by 70 to get 1 procent then take that times 30 to se what 30% represents in money.
Then take 2058+4802 to get the original amount which is 6860
However you could also just figure out 1 procent and then take it times 100% to get the original amount.
