Question

Jimmy is about to take out student loans for his first semester of college. His tuition is $2400, he already has 35% of that tuition paid for by scholarships. How much money will Jimmy need to be loaned in order to pay the rest of his tuition?$840$1550$1560$1650

Answer 1

Given:

The total tuition amount is T = $2400.

The percentage of paid is r = 35%.

The objective is to find the money need to be loaned in order to pay the rest of his tuition.

Explanation:

Consider the required loan amount as x.

The value of x can be calculated by subtracting the percentage of paid amount from the total amount.

The expression can be written as,

$x=T-rt\text{ . . . . .(1)}$

On plugging the given values in equation (1),

$\begin{gathered} x=2400-\frac{35}{100}\times2400 \\ =2400-(35\times24) \\ =2400-840 \\ =1560 \end{gathered}$

Thus, the money need to be loaned in order to pay the rest of his tuition is $1560.

Hence, option (3) is the correct answer.