Find the interest earned by an account with $1,200 of simple interest of 4% for 3 years.
Find the percent markup. Round to the nearest whole percent.
store's cost: $100
selling price: $160
Find the percent of increase.
50 to 70
Find the percent of decrease. Round your answer to the nearest tenth of a percent where necessary.
75 to 60
So i kept trying to find the answers but nobody was giving the correct ones for connexus so i took the test and here are the answers!
1.c 2.b 3.c 4.c 5.a 6.b 7.c 8.d 9.c 10.a
1. I = P*r*t = 1200*0.04*3 = $144.00
2. $160/$100 = 1.60 = 160%
% Mark-up = 160% - 100% = 60 %.
3. 70/50 = 1.40 = 140 %.
%Increase = 140%-100% = 40 %.
4. 60/75 = 0.80 = 80 %
%Decrease = 80% - 100 = -20%.
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To find the interest earned on an account, you can use the formula:
Interest = Principal * Rate * Time
Where:
Principal = $1,200
Rate = 4% (4/100 = 0.04)
Time = 3 years
Plugging in the values into the formula, we get:
Interest = $1,200 * 0.04 * 3 = $144
So, the interest earned by the account is $144.
To find the percent markup, you can use the following formula:
Percent Markup = (Selling Price - Cost Price) / Cost Price * 100
Given:
Cost Price = $100
Selling Price = $160
Plugging in the values into the formula, we get:
Percent Markup = ($160 - $100) / $100 * 100 = 60%
So, the percent markup is 60%.
To find the percent of increase, you can use the following formula:
Percent Increase = (New Value - Old Value) / Old Value * 100
Given:
Old Value = 50
New Value = 70
Plugging in the values into the formula, we get:
Percent Increase = (70 - 50) / 50 * 100 = 40%
So, the percent of increase is 40%.
To find the percent of decrease, you can use the following formula:
Percent Decrease = (Old Value - New Value) / Old Value * 100
Given:
Old Value = 75
New Value = 60
Plugging in the values into the formula, we get:
Percent Decrease = (75 - 60) / 75 * 100 = 20%
So, the percent of decrease is 20%.