A friend lends you $360 which you agree to repay with 3% interest. How much will you have to repay?
1 answer:
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Given parameters:
Percentage gain = 300%
Selling cost last year = $2420
Unknown:
Selling cost this year = ?
Solution:
To solve this problem;
Profit percent =
300 =
3 =
S- 2420 = 7260
S = $9680
To make a 300% gain, Jefferson Middle school needs a $9680 from fundraiser sales this year.