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almond37 [142]
3 years ago
13

The amount of simple interest accrued on a sum of money varies jointly with the amount of money, the interest rate, and the time

the money is invested. A sum of money is invested at 4% for 3 years and accrues $168 in interest. The same sum of money is invested in a second account at 6% for 4 years. Which statement is true?
A. The amount of interest accrued on the second account is less than double the amount of interest accrued on the first account.
B. The amount of interest accrued on the second account is double the amount of interest accrued on the first account.
C. The amount of interest accrued on the second account is more than double but less than triple the interest on the first account.
D. The amount of interest accrued on the second account is more than triple the interest accrued on the first account.
Mathematics
2 answers:
ziro4ka [17]3 years ago
7 0
Find the amount of the first one
P=168/0.04*3
P=1400
Use the in the second one to find the interest
I=1400*0.06*4
I=336
336 is double the amount of 168
So the answer is B
Vikentia [17]3 years ago
5 0

Answer:

Option (B) is correct i.e the amount of interest accrued on the second account is double the amount of interest accrued on the first account.

Step-by-step explanation:

As given

The amount of simple interest accrued on a sum of money varies jointly with the amount of money, the interest rate, and the time the money is invested.

Thus

Formula for simple interest .

Simple\ interest = \frac{Principle\times Rate\times Time }{100}

As given

A sum of money is invested at 4% for 3 years and accrues $168 in interest.

Put in the above

168 = \frac{Principle\times 4\times 3}{100}

Principle = \frac{16800}{12}

Principle = $1400

As given

The same sum of money is invested in a second account at 6% for 4 years.

Put in the formula

Simple\ interest = \frac{1400\times 6\times 4}{100}

Simple\ interest = \frac{33600}{100}

Simple interest = $336

Thus Option (B) is correct i.e the amount of interest accrued on the second account is double the amount of interest accrued on the first account.


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