Question

in order to lure new customers to a credit card, a bank is offering an initial cash back award, plus cash back amounting to a percentage of the value of all purchases made with the card. If p is the value if all purchases made with the card and c is the amount of cash back, which of these equations does the graph represent?

Answer 1

Answer:

c = 0.03p + 150

Step-by-step explanation:

Let the equation of the line representing the relation between cash back and value of purchases be,

c = mp + b

Where m = slope of the line = rate of change in cash back earned

b = y-intercept = cash back already earned  

Slope of the line = $\frac{\triangle p}{\triangle c}$ = slope of the line passing through points (0, 150) and  (2000, 210)

= $\frac{210-150}{2000-0}$

= $\frac{60}{2000}$

= 0.03

And 'b' = y-intercept = 150

Therefore, equation represented by the graph will be,

c = 0.03p + 150