Q: A bank lent $250 to a customer for a one-month loan. At the end of the month, the bank received y dollars more than than the amount that was lent due to interest. The bank also charged a service fee $5. In terms of y, what fraction of the amount that the bank received was the service fee?
Options:
(A) 5/(255+y)
(B) 5y-1
(C) 5y/(250-y)
(D) 5/(250-y)
(E) 5y-250 Let's give some random thoughts before answering.
The amount of money the bank received was (250 + 5+ y) dollars. The $5 service fee as a fraction of the amount received was, therefore, 5/(255+y).
Therefore, the answer is (A).