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murzikaleks [220]
3 years ago
7

Daniel buys a refrigerator for Rs 21 850 . The price includes a Value Added Tax (VAT) of 15 %. How much is the VAT?

Mathematics
1 answer:
arsen [322]3 years ago
5 0

\large \mathfrak{Solution : }

let's find the value of added tax :

  • \dfrac{15}{100}  \times 21850

  • \dfrac{3}{2}  \times 2185

  • \dfrac{6555}{2}

  • 3277.5

The value of added tax (VAT) = ₹ 3277.5

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Growth Models 19515. In 1968, the U.S. minimum wage was $1.60 per hour. In 1976, the minimum wagewas $2.30 per hour. Assume the
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In general, the exponential growth function is given by the formula below

f(x)=a(1+r)^x

Where a and r are constants, and x is the number of time intervals.

In our case, n=0 for 1960; therefore, 1968 is n=8,

\begin{gathered} f(8)=a(1+r)^8 \\ \text{and} \\ f(8)=1.6 \\ \Rightarrow1.6=a(1+r)^8 \end{gathered}

And 1976 is n=16

\begin{gathered} f(16)=a(1+r)^{16} \\ \text{and} \\ f(16)=2.3 \\ \Rightarrow2.3=a(1+r)^{16} \end{gathered}

Solve the two equations simultaneously, as shown below

\begin{gathered} \frac{1.6}{(1+r)^8}=a \\ \Rightarrow2.3=\frac{1.6}{(1+r)^8}(1+r)^{16} \\ \Rightarrow2.3=1.6(1+r)^8 \\ \Rightarrow\frac{2.3}{1.6}=(1+r)^8 \\ \Rightarrow(\frac{2.3}{1.6})^{\frac{1}{8}}=(1+r)^{}^{} \\ \Rightarrow r=(\frac{2.3}{1.6})^{\frac{1}{8}}-1 \\ \Rightarrow r=0.0464078 \end{gathered}

Solving for a,

\begin{gathered} r=0.0464078 \\ \Rightarrow a=\frac{1.6}{(1+0.0464078)^8}=1.113043\ldots \end{gathered}

a) Thus, the equation is

\Rightarrow f(n)=1.113043\ldots(1+0.0464078\ldots)^n

b) 1960 is n=0; thus,

f(0)=1.113043\ldots(1+0.0464078\ldots)^0=1.113043\ldots

The answer to part b) is $1.113043... per hour

c)1996 is n=36

\begin{gathered} f(36)=1.113043\ldots(1+0.0464078\ldots)^{36} \\ \Rightarrow f(36)=5.6983\ldots \end{gathered}

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Answer:

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