It takes 4 years for a principal of $25,000 at a simple interest rate of 5% to become 30,000
<em><u>Solution:</u></em>
Given that:
principal = $ 25000
rate of interest = 5 %
Total amount = $ 30000
Number of years = ?
Formula used:
Total amount = principal + Simple interest
30000 = 25000 + Simple interest
Simple interest = 30000 - 25000
Simple Interest = $ 5000
<em><u>The simple interest is given as:</u></em>
Where, "p" is the principal
"n" is the number of years
"r" is the rate of interest
Substituting the values in formula, we get
Thus it takes 4 years for a principal of $25,000 at a simple interest rate of 5% to become 30,000
Answer:
A mathematical equation is an equation with zero or one variables (e.g., 9 = 6 + 3; 9 = x + 3), whereas an algebraic equation
Step-by-step explanation:
Answer:
$33.00
Step-by-step explanation:
You find out how much the sale price is by subtracting 25% of 40 from 40:
40 - [(.25)(40)] and that equals 30. So the sale price is $30. Now if the tax is 10% (.1 in decimal form), we find the total cost by adding .1(30) to 30:
30 + [(.1)(30)] which is $33
Let the cost of the hair dryer equal x.
The net cost plus a 40% markup equals 42, set up an equation and solve forex.
1.4x = 42
Divide both sides by 1.4
X = 42 / 1.4
X = 30
The net cost was £30