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soldier1979 [14.2K]

3 years ago

10

PLEASE ANSWER! URGENT

1 answer:

Lorico [155]3 years ago

4 0

There would be 2034 students competing in 2012.

We can write a simple equation to find this answer. Let X, be the number of students starting in 2012. Then, we multiply by 0.9 and 1.1 to get to 2014. To work backwards, just divide by 1.1, then by 0.9.

2014 / 1.1 / 0.9 = 2034

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Find the annual interest rate.

slega [8]

The annual interest rate is 3.5%.

Solution:

Given Interest (I) = $26.25

Principal (P) = $500

Time (t) = 18 months

Rate of interest (r) = ?

Time must be in years to find the rate per annum.

1 year = 12 months

Divide the time by 12.

Time (t) = $\frac{18}{12}=\frac{3}{2}$ years

Now, find the rate of interest using simple interest formula.

<u>Simple interest formula:</u>

$$I=\frac{Prt}{100}$

$$26.25=\frac{500\times r\times \frac{3}{2} }{100}$

$$26.25\times 100 =500\times r\times \frac{3}{2}$

$$2625 =250\times r\times 3$

$$2625 =750\times r$

$$\Rightarrow r=\frac{2625}{750}$

⇒ r = 3.5%

Hence the annual interest rate is 3.5%.

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