suppose that 75% of all people with credit records improve their credit ratings within 3 years.SUppose that 18% of the population at large have poor credit records, and of those only 30% will improve their credit ratings within 3 years. What percentage of the people who will improve their credit records within the next 3 years are the ones who currently have good credit ratings?
the correct answer should be 92.8%. how to get that? I couldn't get that.
2007-01-30 23:14:22 · 3 answers · asked by quz_us 1 in Science & Mathematics ➔ Mathematics
If 18% have poor credit, and 30% of those will improve their credit rating... so 18% x 30% = 5.4%
So... of the 75% who improve their ratings, 5.4% have poor credit. 5.4% / 75% = 7.2% of the people who improve their credit have poor credit, so the rest have good credit. 100% - 7.2% = 92.8%
2007-01-30 23:28:39 · answer #1 · answered by Mathematica 7 · 1⤊ 1⤋
If 100% of people want to improve the credit records, they have to pay their credit cards, or not get any at the first place
2007-01-30 23:22:24 · answer #2 · answered by gabnella 6 · 0⤊ 2⤋
The people who have bad credit but improve is 30% of 18% or 5.4%. That leaves 75% - 5.4% = 69.6% that must have good credit to begin with. 69.6% / 75% = 0.928 or 92.8%
2007-01-30 23:27:00 · answer #3 · answered by Roy E 4 · 1⤊ 1⤋