Answer: 14500
Step-by-step explanation:
Let the price of the mobile phone before the GST was added be represented by x.
Therefore,
x + (12% × x) = 16240
x + 0.12x = 16240
1.12x = 16240
x = 16240/1.12
x = 14500
The price of the mobile phone before the GST was added was 14500
Over time, compound interest at any rate will outperform simple interest. When the rates are nearly equal to start with, compound interest will be greater in very short order. Here, it takes less than 1 year for compound interest to give a larger account balance.
In 30 years, the simple interest will be
... I = P·r·t = 12,000·0.07·30 = 25,200
In 30 years, the compound interest will be
... I = P·(e^(rt) -1) = 12,000·(e^(.068·30) -1) ≈ 80,287.31
_____
6.8% compounded continuously results in more total interest
The correct way is to plug in the answer back into the equation and see if it results in the correct solution.
Answer is: 60x=240
240/60=40
Y = x/4 - <span>€
y = (1/4)x - </span><span>€
</span><span>
y = 0.25x - </span>€ comparing to y = mx + c
m = slope = 0.25 or (1/4)
