Question

The credit card bill of a person is ₹5000. He repaid an amount of ₹4200 and again purchased an item worth ₹1500. What is the outstanding amount that the person still owes to the credit card company?

Answer 1

Question:

The credit card bill of a person is ₹ 5000. He repaid an amount of ₹ 4200 and again purchased an item of worth ₹ 1500. What is the outstanding amount in the credit card of that person still owe to credit card company?

SOLUTION:

According to the question,

• Credit card bill = ₹ 5000
• He repaid an amount of ₹ 4200

So, the amount left to be paid = ₹5000 - ₹4200 = ₹ 800.

In the remaining balance with some extra credit the person purchases an item worth ₹ 1200.

• Remaining balance = ₹ 800
• Cost of item = ₹ 1500

Now, the outstanding amount = ₹ 800 - ₹ 1500 = -700

∴ The outstanding amount that the person owes to credit card company is ₹ 700

KNOW MORE:

• When a person buys an item, the cost of that item is known as 'Cost Price'
• When the person sells an item the cost he puts on the item will be referred as 'Selling Price'
• When Selling price is greater than cost price, it is known as profit