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Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion


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June 18th, 2010, 06:29 AM   #1
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Rent problem!

In October my rent changed from $1733.33 to $1625 a month.

This change came into effect on 11th (and including the 11th) so 10 days are to be paid at the higher rate and 21 days at the lower rate.

At the end of the month the letting agency had charged me for the entire month at the higher rate, how much do they owe me back?

Could you please show how you worked this out as I have varying answers, the day rate must be calculated by multiplying the monthly rate by 12 and dividing by the 365 days in a year.

Thanks,
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June 18th, 2010, 07:49 AM   #2
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Re: Rent problem!

The difference is $ 108.33 per month.

That's $ 108.33 * 12 / 365 per day,
or $ 3.5615342465753423
and they owe you for 21 days.

$ 3.5615342465753423 * 21 days
= $ 74.79221917808219
rounded to $ 74.79.
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June 18th, 2010, 08:00 AM   #3
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Re: Rent problem!

Quote:
Originally Posted by aswoods
The difference is $ 108.33 per month.

That's $ 108.33 * 12 / 365 per day,
or $ 3.5615342465753423
and they owe you for 21 days.

$ 3.5615342465753423 * 21 days
= $ 74.79221917808219
rounded to $ 74.79.

Yes, I also calculated a similar amount. The problem arises when you consider what I should have paid that month;

(1733.3*12)/365 = 56.99 I should have paid this rate for 10 days equalling $569.8
(1625.0*12 )/365 = 53.42 I should have paid this rate for 21 days equalling $1,121.9

The sum of those figures is; $1,691.7, yet I actually paid the old rate ($1,733.3) so am I not owed;

1,733.3 - 1,691.7 = $41.58?

Where is the difference in these figures occurring?
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June 18th, 2010, 10:13 AM   #4
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Re: Rent problem!

About six tenths of a day is the difference. The average number of days in a month is ~30.4

so rather than paying for 31 days at $55.91/day, you're really paying for 30.4 days at $56.99/day.

The problem arises from calculating all these (what I consider to be) ridiculous PER DAY rates. If you're paying per month, they should just calculate the (pro)portion of the month that you owe more rent for.
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