See the attached picture:
Let's get the data out of the problem:
Nv = 18
Ov = 12
Now, we can apply in this equation that relates the new and the old values:
i = Nv / Ov
i = 18 / 12
i = 1.5
Now, we just consider what has passed from 1, and this is 0.5, converting to percentage it is:
p = 0.5 . 100
p = 50%
The increase was 50%.
Hope it helps.
Answer:
7 years
Step-by-step explanation:
Given:
Principal P = 9300
Interest rate r = 13% = 0.13
Final amount F = 17,763
Since the problem does not state that it is a compounded interest, we will assume this is a simple interest case.
The formula for simple interest is;
Interest I = Prt .....1
t = period
Final amount F = P + I
I = F-P
Substituting into equation 1;
(F-P) = Prt
t = (F-P)/Pr
Substituting the given values;
t = (17,763 - 9300)/(9300×0.13)
t = 7 years
Period = 7 years
Answer:
The third answer aka C
Step-by-step explanation:
