<span>ratio 3:7
Zoe received £24 (3 x 8 = 24)
</span>Hannah 7 x 8 = £56
Amount in compound interest = p(1 + r/t)^nt where p is the initial
deposit, r = rate, t = number of compunding in a period and n = period.
Here,
Amount after t years = 103(1.02)^t
i.e. 1 + r = 1.02
r = 1.02 - 1 = 0.02
Therefore, annual interest rate = 0.02 x 100 = 2%
Answer 6 hours
Reason
7x + 9.50 = 55
-9.50. -9.50 subtract from both sides
_____________
7x = 45.50
Divide both sides by 7 to isolate x
X = 6.5
So he can rent for 6 hours (the .5 would be charged as a full hour per the problem)