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alexdok [17]
3 years ago
14

After a storm damage is the community center sent Kiya and her friends hold fundraising events to help pay for repairs after the

first event they raise $240 which is 10% of the total amount they want to raise. What is the total amount of money that she and Keelan and her friends want to raise?
Mathematics
1 answer:
andrew-mc [135]3 years ago
7 0

Answer: the total amount of money that they wanted to raise is $2400

Step-by-step explanation:

Let x represent the total amount of money that Keelan and her friends want to raise.

After the first event they raise $240 which is 10% of the total amount they want to raise. The amount of money that raised after the first event is expressed as

10/100 × x = 0.1 × x = 0.1x

Therefore,

0.1x = 240

Dividing both sides of the equation by 0.1, it becomes

x = 240/0.1

x = $2400

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What simple interest rate would allow $6000 to grow to an amount of $14550 in 10 years?
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Answer:

\boxed{ \bold{ \huge{  \boxed{ \sf{ \: 14.25 \: \% \: }}}}}

Step-by-step explanation:

Given,

Principal ( P ) = $ 6000

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Time ( T ) = 10 years

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The sum of principal and interest is called an amount.

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\boxed{ \sf{Amount =  \: Principal + Interest}}

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⇒\sf{14550 = 6000 + Interest}

Swap the sides of the equation

⇒\sf{6000 + Interest = 14550}

Move 6000 to right hand side and change its sign

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⇒\sf{Interest = \: 8550 \: }

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<u>Finding </u><u>the </u><u>rate </u>

{ \boxed{ \sf{Rate =  \frac{Interest \times 100}{Principal \times Time}}}}

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⇒\sf{ Rate = \frac{8550  \times 100}{6000 \times 10} }

Calculate

⇒\sf{Rate =  \frac{855000}{60000} }

⇒\sf{Rate = 14.25 \: \% \: }

Hope I helped!

Best regards!!

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