Question

Your bank gives you 50 points for monthly online bill pay, 50 points for monthly mobile deposits, 100 points per car payment, and 1.5 points per dollar credit card spent. You had monthly credit card charges of $1,400 last month. You earn $75 per 10,000 points. How much in dollars did you earn from points last month

Answer 1

Last month earning = $17.25

Solution:

Points for monthly online bill pay = 50

Points for monthly mobile deposits = 50

Points per car payment = 100

Points for credit card spent per dollar = 1.5

Monthly credit card charge = $1,400

Monthly points for credit card charge = 1400 × 1.5 = 2100

Total points earned per month = 50 + 50 + 100 + 2100

                                                   = 2300 points

Amount for 10,000 points = $75

Amount for 2,300 points = $\frac{75}{10000} \times 2300$

                                         = $17.25

Hence, $17.25 earn from last month.

Answer 2

The amount earned in dollars as a result of point earning las month is $17.25

Given the Parameters :

• Point per credit card charge = 1.5
• Total credit card charge = $1400
• $75 per 10,000 points

Total points earned last month :

(50 + 50 + 100 + (1.5 × 1400)) = 2300 points

$75 = 10,000 points

x = 2300 points

Cross multiply

10000x = 2300 × 75

10000x = 172,500

x = 172500 / 10000

x = $17.25

Therefore, dollar earning last month is $17.25

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