Ernie Rolph deposits $4500 at 2% annual simple interest for 1 year. How much interest will he earn?
1 answer:
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Let's assume
the price of each train ticket is x
we are given
total number of family members =5
so, total cost of ticket = total number of family members*the price of each ticket
so, total cost of ticket =5*x
so, total cost of ticket =5x
now, we have
each family member buys a boxed lunch for $6.50
so, total cost of lunch box = total number of family members*price of each lunch box
so, total cost of lunch box = 5*6.50
total cost of trip = total cost of ticket+total cost of lunch box
we are given
total cost of trip is $248.50
now, we can plug values
and we get
now, we can solve for x
so,
the price of each train ticket is $43.2..........Answer