Suppose $22,825 is deposited into a savings account with a simple interest rate of 4.03%. Find the account balance after 5 years
2 answers:
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Answer:
Stefan spend $120 originally.
Stefan made $72 by selling bicycle and helmet to Jim.
Step-by-step explanation:
Given:
Cost of bicycle = $175
Cost of Helmet = $17
Percent of total cost of Jim = 160% of original cost of Stefan
We need to find the Amount Stefan spend originally and money he made by selling the bicycle and helmet to Jim.
Solution:
Let the Amount Stefan spend originally be 'x'.
Total Cost of Jim is equal to sum of Cost of bicycle and Cost of Helmet.
framing in equation form we get;
Total Cost of Jim =
Now we know that;
Total Cost of Jim is equal to 160% of Amount Stefan spend originally.
framing in equation form we get;
Dividing both side by 1.6 we get;
Hence Stefan spend $120 originally.
Now we can say that;
Money Stefan made is equal to Money Stefan spend originally minus Total Cost of Jim.
framing in equation form we get;
Money Stefan made =
Hence Stefan made $72 by selling bicycle and helmet to Jim.