What is the rate of the interest on $560 for two years is $145.60?
1 answer:
The rate of interest is 13%.
Step-by-step explanation:
Given,
Principal (P) = $560
Interest (I) = $145.60
Time (T) = 2 years
To find the rate of interest
Formula
If P principal was invested for T years at r% simple interest, the interest will be I =
So,
Putting the values of P, I, T we get,
145.60 =
or, r =
or, r = 13%
Hence,
The rate of interest is 13%.
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Answer:
a) 0.125
b) 7
c) 0.875 hr
d) 1 hr
e) 0.875
Step-by-step explanation:l
Given:
Arrival rate, λ = 7
Service rate, μ = 8
a) probability that no requests for assistance are in the system (system is idle).
Let's first find p.
a) ρ = λ/μ
Probability that the system is idle =
1 - p
= 1 - 0.875
=0.125
probability that no requests for assistance are in the system is 0.125
b) average number of requests that will be waiting for service will be given as:
λ/(μ - λ)
= 7
(c) Average time in minutes before service
= λ/[μ(μ - λ)]
= 0.875 hour
(d) average time at the reference desk in minutes.
Average time in the system js given as: 1/(μ - λ)
= 1 hour
(e) Probability that a new arrival has to wait for service will be:
λ/μ =
= 0.875