The interest rate is 3.5%.
EXPLANATION
We substitute the given values into the formula;

to obtain

We divide through by 6000 to obtain,

This implies that,

We take the square root of both sides,

This gives us,

Add -1 to both sides of the equation to obtain

Multiply through by 100 to obtain;

%
Answer:
C. $824.74, $175.26
Step-by-step explanation:
1) Amount Credited
The formula to calculate the amount credited =
Amount paid ÷ ( 100% - Discount)
Discount is given in the question as 3/10
Where 3 = Discount rate
Amount paid = $800
Amount credited = 800/( 100% - 3%)
= 800/ 97%
= 800/ 0.97
= $824.74
b) Outstanding balance = Invoice - Amount credited
Invoice = $1000
Amount credited = $824.74
Outstanding balance = $1000 - $824.74
= $175.26
9514 1404 393
Answer:
(a) not proportional
(b) k = 7/8
Step-by-step explanation:
When a linear equation is of the form ...
y = mx + b
with b ≠ 0, the relation is NOT PROPORTIONAL.
__
If b=0, so the equation is of the form ...
y = kx
then the relation IS PROPORTIONAL. The constant of proportionality is k.
__
(a) Not proportional
(b) Proportional with k = 7/8