Question

Family Health clinic has an average collection period of 21 days. What percent of this month's revenue is collected this month? (Assume all months have 30 days.) O 50% O 70% O 45% O 30%

Answer 1

The correct answer is mentioned below :

The correct option is the last option which is " 30% "

Because the average collection period is 21 days and total days in the month 30 days as mentioned above and please see the working below;

% of uncollected amount = ( Average collection period / total period of month) * 100

% of uncollected revenue = 21 / 30 * 100

% = 70 %

% of collected revenue = full revenue % - uncollected revenue %

% of collected revenue = 100 % - 70 %

% of collected revenue = 30 % ( collected revenue this month)