A family made a down payment of $50
and borrowed the balance on a set of
encyclopedias that cost $550. The
balance with interest was paid in 20
monthly payments of $30 each and a
final payment of $19. The amount of
interest paid was what percent of the
amount borrowed?  Pick:
A) 6% B) 12% C) 14% D) 16% E) 23.8%
interest paid = 30*20+19 - 500= 
<gadget id="calculator">30*20+19 - 500</gadget>
<output>119</output>
119   % off the balance= (119/500) * 100= 
<gadget id="calculator">(119/500) * 100</gadget>
<output>119/5 = around 23.8</output>
23.8%   Answer is 23.8%.
<result>E</result>
A family made a down payment of $50
and borrowed the balance on a set of
encyclopedias that cost $550. The
balance with interest was paid in 20
monthly payments of $30 each and a
final payment of $19. The amount of
interest paid was what percent of the
amount borrowed?