Answer:
Principal amount (P) = $10,000
Rate (R) = 1.5%
Time (T) = 4 years
Simple interest, I = P X R X T / 100
= 10000 X 1.5 X 4 /100
= 60000 / 100
= $600
Therefore, Balance = P + I
= 10000 + 600
= $10600
We can set up 2 equations given the information.
Let the price of advance ticket be represented by A and same day ticket by S
A + S = 50
20A + 40S = 1700
Solve for A in the first equation by subtracting S on both sides.
U will get A = 50 - S
Now substitute 50 - S for A in the second equation.
20 (50 - S) + 40S = 1700
1000 - 20S + 40S = 1700
20S = 700
S = 35
Same day ticket costs $35 and advance ticket costs $15
Let the boat speed in still water be b.
Let the current speed be c.
The speed going upstream is 20/4 = 5 mph.
The speed going downstream is 32/4 = 8 mph.
b - c = 5 ........(1)
b + c = 8 .......(2)
Adding equations (1) and (2) we get:
2b = 13
b = 13/2 = 6.5
Plugging in the value for b into equation (1) we find c = 1.5.
The boat speed in still water is 6.5 mph and the current speed is 1.5 mph.
