401 Diner reported sales revenues of $53,000 in April. Thirty percent were cash sales and seventy percent were paid by credit cards. 401 Diner pays a three percent fee to the credit card companies.
-401 Diner's credit card fees for April would be closest to:

Question

401 Diner reported sales revenues of $53,000 in April. Thirty percent were cash sales and seventy percent were paid by credit cards. 401 Diner pays a three percent fee to the credit card companies. 
-401 Diner's credit card fees for April would be closest to:

Quizplus · Accepted Answer

Credit card sales = 70% of $53,000 = $37,100. Credit card fees = 3% of $37,100 = $1,113.

401 Diner Reported Sales Revenues of $53,000 in April