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The rate of interest is 75 % per year
<em><u>Solution:</u></em>
Given that, Jamerra received a $3,00 car loan
she plans on paying off the loan in 2 years
<em><u>Jamerra will have paid $450 in interest</u></em>
Therefore, we get
Principal = $ 300
Number of years = 2
Simple Interest = $ 450
Rate of interest = ?
<em><u>The simple interest is given by formula:</u></em>
Where,
"p" is the principal and "n" is the number of years and "r" is the rate of Interest
<em><u>Substituting the given values we get,</u></em>
Thus rate of interest is 75 % per year
A toy cost 0.85p in January.
Step-by-step explanation:
Given,
Mark down in January = 15%
Let,
Price in December = p
Mark down in January = 15% of price in December
Mark down in January =
Mark down in January = 0.15p
Price of toy in January = Price in December - Mark down
Price of toy in January = p - 0.15p = 0.85p
A toy cost 0.85p in January.
Keywords: mark down, subtraction
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