Step-by-step explanation:
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When Loss and Selling price ( SP ) are given , Cost price ( CP ) can be found out using the following formulae :
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We simply derived the formula from Loss = CP - SP.
First , Swap the sides of the equation :
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Move SP to right hand side and change it's sign :
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This is how , CP can be obtained when we are given loss and SP.
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Monday= 13.45
Tuesday=9.5
wednesday/Friday= x/3
1st. you add Monday and Tuesday
2nd. you subtract the total 42.6 with added numbers of step one
3rd. finally you divided the total of step 2 by 3
finally you shall receive your answer.
We need only realize that 1(-8)(-6)=48 to see that C) is the only answer from those choices that can be an answer.
To get the effective interest rate (EIR) of the loan, determine first whether we will use a simple interest method or a discounted method. In this case, we will use a discounted method because the loan is a discounted one. In a discounted method, interest is deducted from the loan principal. So the formula will look like this:
EIR = Interest ÷ (Principal - Interest)
Before proceeding any further, solve first for interest. (assuming a 360-day year)
Interest = Principal × rate × interest
= $2950 × (100/360) × (0.085)
= $69.65
Thus, EIR can be computed as follows:
EIR = ($69.65 ÷ ($2950 - $69.65)) × 360
≈ 8.7%
Notice that the EIR was multiplied by 360 to return it to an annual rate.