Answer:
$14000
Step-by-step explanation:
Given parameters:
Amount earned by employee x = $5250
Time duration = 3weeks
Unknown:
Amount earned in 8 weeks = ?
Solution:
Let us first find the rate of employee x earning;
Rate =
Insert parameters;
Rate = = $1750/week
So,
In 8 weeks;
Amount earned = rate x time duration
Amount earned = $1750/week x 8weeks
Amount earned = $14000
Answer:
3yrs
Step-by-step explanation:
Given parameters:
Capital = $700
Percentage interest = 4% per annum
Unknown:
Time it will take for amount to be = $784
Solution:
To find the simple interest on an amount;
I =
P is the principal
R is the rate
T is the time
I is the interest
Insert the parameters:
I =
I = 28T
So;
At the end of the duration:
Principal + Interest = Amount
700+28T = 784
28T = 784 - 700
28T = 84
T = 3yrs