blueonez21
Mar 7, 2012, 11:51 PM
1. Louise buys a computer set from a merchant who offers $10000 at the end of 60 days. She wishes to pay immediately and the merchant offers to compute the required amount on the assumption that money is worth 10% ordinary simple interest. What is the required amount?
2. What is the principal amount if the amount of interest at the end of 1 1/2 year is $2200 for a simple interest of 5% per annum?
3. A time deposit of $50000 for 31 days earns $200 on maturity date after deducting the 10% withholding tax on interest income. Find the rate of interest per annum.
4.the price tag of a certain commodity is for 100 days.. If paid in 30 days, there is a 3% discount. What is the simple interest paid?
5. A price tag of $1000 is specified if paid within 50 days but offers a 3% discount for cash in 20 days. Find the rate of interest.
6. What is the formula on how to get the "banker's discount"?
7. In buying a television, the buyer was offered the options of paying $1200 cash at the end of 30 days or $1500 at the end of 120 days. At what rate is the buyer paying simple interest if he agree to pay at the end of 120 days.
2. What is the principal amount if the amount of interest at the end of 1 1/2 year is $2200 for a simple interest of 5% per annum?
3. A time deposit of $50000 for 31 days earns $200 on maturity date after deducting the 10% withholding tax on interest income. Find the rate of interest per annum.
4.the price tag of a certain commodity is for 100 days.. If paid in 30 days, there is a 3% discount. What is the simple interest paid?
5. A price tag of $1000 is specified if paid within 50 days but offers a 3% discount for cash in 20 days. Find the rate of interest.
6. What is the formula on how to get the "banker's discount"?
7. In buying a television, the buyer was offered the options of paying $1200 cash at the end of 30 days or $1500 at the end of 120 days. At what rate is the buyer paying simple interest if he agree to pay at the end of 120 days.