I need help with this i don't understand it i'll give brainliest to correct answers and whoever answers first
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Using proportions, it is found that his DAILY RATE on that particular day is of Php 2,420 .
- This question is solved by proportions, using a <em>rule of three.</em>
- In a regular 8-hour day, Allen earns Php 1420. How much will he earn on a 14 hour day?
The <em>rule of three</em> is:
8 hours - Php 1420
14 hours - x
Applying cross multiplication:
The closest option is Php 2,420.
A similar problem is given at brainly.com/question/24372153
The maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.
<h3>What is simple interest?</h3>Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,
where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.
As it is given the principal amount of the loan is $2500, while the interest rate is 4.3%, therefore, after a period the interest on the loan will be,
Thus, the interest amount on the loan of $2500, is $107.5.
Now, in order to find the value of the loan we need to add the interest and the principal amount of the loan together. Therefore, the value of the loan can be written as,
The value of the loan = Principal Amount + Interest rate
= $2500 + $107.5
= $2607.50
Hence, the maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.
Learn more about Simple Interest: