Let the actual value of the stool be x.
So if the carpenter sells the stool x rupees he neither loses, now wins anything.
67.50 is the value x - 10% of x, that is:
67.50=x-0.1x
67.50=0.9x
x=67.50/0.9=75 (rupees) is the actual value of the stool.
Selling the stool for 82.50 rupees, the carpenter clearly would make a profit, say of y% of that actual value, that is y%*75.
So using the same method:
82.50=75+y%*75
y%*75=82.50-75=7.5
we can make the calculations, but clearly 7.5 is 10% of 75
Answer: 10% gain.
One ounce is one-sixteenth of a pound since there is 16 ounces in a pound.
SYSTEM OF EQUATIONS
S+B = 17000
0.1S+0.07B=1280
Multiply the first equation by 0.1 and subtract the second equation
0.03B=420
B=14,000
S=3,000
Given:
Principal = 17,000
rate = 10.7%
term = x/360
interest = 1,121.72
Interest = Principal * rate * term
1,121.72 = 17,000 * .107 * x/360
1,121.72 = 1,819x / 360
1,121.72 * 360 = 1,819x
403,632 / 1,819 = x
221.90 = x
Lauren Michelle will have to wait 222 days for her investment to earn $1,121.72
Given:
Principal = x
rate = 9%
term = 10 months
interest = 1,687.50
Interest = Principal * rate * term
1,687.50 = x * 0.09 * 10/12
1,687.50 = x * 0.075
1,687.50 / 0.075 = x
22,500 = x
The amount Sandra Leatherwood invested was $22,500.
