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A company processes a number of cheques every month. There are two type of cheques. Type 1 has an average amount of $51 and constitutes
A company processes a number of cheques every month. There are two type of cheques. Type 1 has an average amount of $51 and constitutes 58.30% of the total number of cheques. The other type, Type 2, has an average amount of $60. Type 1 cheques take 3 days on average to clear, while Type 2 cheques take 4 days on average to clear. If the total daily (collection) float for the two cheques is $6,147, how many cheques is the company processing every month? (Assume 30 days in a month.) 950 974 999 1,023 1,047
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