SOLUTION: 76% of all students who apply for a student loan are approved for the loan.
Of the students who are approved 84% pay the loan back in full.
If 5000 students from state school ap
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Question 984941: 76% of all students who apply for a student loan are approved for the loan.
Of the students who are approved 84% pay the loan back in full.
If 5000 students from state school applied for student loan how many of them are expected to pay the loan back in full?
Answer by mathmate(429) (Show Source): You can put this solution on YOUR website!
Given:
5000 students from state school applied for student loan, of which 76% are approved.
Out of the approved loans, 84% repay the loan in full.
Need:
How many students out of the 5000 are expected to repay in full?
Solution:
Number of applications = 5000
Number of loans approved = 5000*0.76 = 3800
Number of loans repaied = 3800*0.84 = 3192
Answer:
3192 loans out of 5000 will be repaid in full.
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