Question

Change to familiar numerals: MOCX C4 = Find Interest on 1,200 at 6% for 70 days. Ans.

Options:
A) 1.40
B) 14.00
C) 140.00
D) 1,400.00

Answer 1

To compute the interest on $1,200 at a rate of 6% for 70 days, convert the annual rate to a daily rate and apply the simple interest formula. The calculated interest is approximately $14.00, corresponding to Option B.

Step-by-step explanation:

The question asks to find the interest accrued on $1,200 at a rate of 6% for 70 days. To calculate the interest, we use the simple interest formula:

I = PRT

Where:
I = Interest
P = Principal amount ($1,200)
R = Daily interest rate (annual rate divided by the number of days in a year)
T = Time in days (70 days)

First, convert the annual rate to a daily rate:

R = 6% / 365 = 0.0001644 (approximately)

Now calculate the interest:

I = $1,200 * 0.0001644 * 70 = $13.81 (approximately)

Thus, the interest amount for 70 days is close to $14, which aligns with Option B: $14.00.

Answer 2

The amount of interest on 1,200 at 6% for 70 days is $14.00

Therefore, the correct option is B) $14.00.

Step-by-step explanation:

To change the given Roman numerals MOCX C4 to familiar numerals, we can convert them as follows:

MOCX C4 = 1,000 + 100 + 10 + 100 - 1 + 5

Simplifying this expression, we have:

• MOCX C4 = 1,000 + 100 + 10 + 99
• MOCX C4 = 1,210

Therefore, the familiar numeral representation of MOCX C4 is 1,210.

Now, let's solve the problem: Find Interest on $1,200 at 6% for 70 days.

Using the formula for simple interest, we can calculate the interest as follows:

Interest = Principal × Rate × Time

Given:

• Principal = $1,200
• Rate = 6% = 0.06 (decimal form)
• Time = 70 days

Plugging in the values, we have:

Interest = $1,200 × 0.06 × (70/365)

Calculating this expression, we find:

Interest ≈ $14.00

Therefore, the correct answer is option B) $14.00, which represents the interest on $1,200 at 6% for 70 days.