Answer:the cost of each CD for a member is $5.25
Step-by-step explanation:
The membership costs $22 per year, and then a member can buy CDs at a reduced price.
Let x represent the cost of each CD for a member.
Let n represent the number of CDs that each member buys. This means that the total cost of buying n CDs for a member for a year would be
22 + nx
If a member buys 17 CDs in one year, the cost is $111.25. This means that
17x + 22 = 111.25
17x = 111.25 - 22 = 89.25
x = 89.25/175 = 5.25
Step-by-step explanation:
Rate of interest is given as 6% and Principle amount as Rs2000
Interest after 1 year= P*R*T/100 = 2000*6*1/100 = Rs 120
Net amount at the end of first year= Principle+ interest-Amount withdrawn=2000+120-700= Rs 1420
For the next 2 years, simple interest will be paid at the rate of 6% on the amount of Rs 1420 which is = 1420*6*2/100 =Rs 170.40
Balance after 3 years= 1420+170.40=Rs 1590.40
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