Question

The monthly finance charge on a credit card is 1.5% of the previous month's outstanding balance.
If Lokesh had an outstanding balance of 30,000 last month, what was the finance charge he paid?
​

Answer 1

the finance charge he paid is 2000

Answer 2

Answer:

finance charge = 1.5% of ordinary balance

= 1.5% of 30000

= ₹ (1.5/100×30000)

= ₹ (15/10×300)

= ₹ 450