Answer:
1)2500
2) 1500
3)2.5%
Step-by-step explanation:
1) the standard formula for interest is i=prt where i= interest, p= principal and t=time
In the first scenario, everything but the principal is given so lets substitute the info into the equation:
75=p*0.03*1
75= 0.03p
75/0.03=p
2500=p
Same thing for second scenario, just different numbers
120=0.04*2*p
120=0.08p
1500=p
This time everything but the rate is given:
250=10000*1*r
250=10000r
Divide both sides by 10000
0.025=r
2.5%=rate(convert into percentage)
Hope this helps!
