Amount Charged | Percent Bonus
$0.01 - $1000 | 0.5
$1000 - $3000 | 1.0
$3000 - $6000 | 1.5
$6000 - $10000 | 2.0
At the end of each year, a certain card company pays a bonus to each of its credit card holders based on the amount, up to $10,000, that the card holder charged throughout the year. A 0.5 percent bonus is paid on the first $1000 charged, a 1.0 percent bonus is paid on the next $2000 and so on, as indicated in the table above. What is the maximum annual bonus, in dollars?
The problem tells us that it will pay a bonus "up to $10,000" so if we want to know the maximum possible bonus, we have to assume the person charged $10,000.
For the first $1,000, the person earns a 0.5% bonus.
1000 = 100%
100 = 10%
10 = 1%
5 = 0.5%
So the person earns $5 for the first $1,000 charged.
For the next $2,000 charged (between $1,000 and $3,000), the person earns a 1% bonus.
200 = 10%
20 = 1%
So the person earns $20 for the next $2,000 charged. .......
.....
The Ans - 150
$0.01 - $1000 | 0.5
$1000 - $3000 | 1.0
$3000 - $6000 | 1.5
$6000 - $10000 | 2.0
At the end of each year, a certain card company pays a bonus to each of its credit card holders based on the amount, up to $10,000, that the card holder charged throughout the year. A 0.5 percent bonus is paid on the first $1000 charged, a 1.0 percent bonus is paid on the next $2000 and so on, as indicated in the table above. What is the maximum annual bonus, in dollars?
The problem tells us that it will pay a bonus "up to $10,000" so if we want to know the maximum possible bonus, we have to assume the person charged $10,000.
For the first $1,000, the person earns a 0.5% bonus.
1000 = 100%
100 = 10%
10 = 1%
5 = 0.5%
So the person earns $5 for the first $1,000 charged.
For the next $2,000 charged (between $1,000 and $3,000), the person earns a 1% bonus.
200 = 10%
20 = 1%
So the person earns $20 for the next $2,000 charged. .......
.....
The Ans - 150
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