I have some problems with these questions:
3. A hat was priced at $10.80. During a sale, the hat sold for $9.18. What was the rate of discount on the hat?
4. A man's tax on his home is $1,952. The tax rate is $3.20 per $100 of assessed value of the home?
I think I need to times 3.20 and 100, but i don't know whats next.
7. Mr.Leonard bought a shipment of goods for $7250. He paid $3000 in cash and agreed to pay the balance in 9 months with interest at 12 1/2%. What was the total cost of the shipment?
8.A coat was priced at $68.50. At a sale, the coat sold for $54.80. What was the rate of discount on the coat?
I have sometimes have problems with these type of questions, so please help me with this question.
9. A real estate agent collected $4,250 in rents. She gave the owner 3,910 and retained the balance as commission. What was her rate of commission?
Is this how you do it?: 4250-3910= 340
and then i don't know what is the next step.
3. Discount=((10.80-9.18)/10.80)*100%=15%.
4. Tax = (3.20/100)*Va = $1952
Solve for Va(assessed value).
7. Loan Amount = 7250-3000 = $4250
Cost = 7250 + 4250*(0.125/12)*9 =
8. Same procedure as #3.
9. Rate = ((4250-3910)/4250)*100% =
Sure, let's go through each problem step by step:
3. To find the rate of discount, we need to calculate the difference between the original price and the sale price, and then divide that by the original price. In this case, the original price is $10.80 and the sale price is $9.18. So, the difference is $10.80 - $9.18 = $1.62. Now, divide this difference by the original price: $1.62 / $10.80 = 0.15. To convert this to a percentage, multiply by 100: 0.15 * 100 = 15%. The rate of discount on the hat is 15%.
4. To calculate the man's tax, we need to multiply the tax rate per $100 of assessed value by the assessed value of the home. In this case, the tax rate is $3.20 per $100 and the tax amount is $1,952. To find the assessed value of the home, we need to divide the tax amount by the tax rate per $100: $1,952 / $3.20 = 610. To calculate the value of the home, we need to multiply the assessed value by $100: 610 * $100 = $61,000. Therefore, the assessed value of the home is $61,000.
7. To find the total cost of the shipment, we need to add the cash payment to the balance paid in 9 months with interest. In this case, Mr. Leonard paid $3,000 in cash and agreed to pay the balance in 9 months with interest at 12 1/2%. To calculate the interest, we multiply the balance ($7250 - $3000 = $4,250) by the interest rate (12.5% = 0.125) and then by the time (9/12 of a year as there are 9 months). Therefore, the interest is $4,250 * 0.125 * 9/12 = $394.69. Now, add the cash payment to the interest: $3,000 + $394.69 = $3,394.69. Finally, to find the total cost of the shipment, we add this amount to the original purchase price: $3,394.69 + $7,250 = $10,644.69.
8. To find the rate of discount, we follow the same process as in problem 3. The original price is $68.50, and the sale price is $54.80. So, the difference is $68.50 - $54.80 = $13.70. Divide this difference by the original price: $13.70 / $68.50 = 0.20. Convert to a percentage: 0.20 * 100 = 20%. The rate of discount on the coat is 20%.
9. To find the real estate agent's rate of commission, we need to divide the commission she retained by the total rents collected. In this case, the total rents collected is $4,250, and she retained $3,910. Divide the retained amount by the total rents collected: $3,910 / $4,250 = 0.92. Convert to a percentage: 0.92 * 100 = 92%. Her rate of commission is 92%.