Question

Work out the value of R%
:)

Answer 1

`\begin{align}\sf 8500 * \left(1 + (R)/(100)\right) - 8500 &= \sf 8500 * (R)/(100) * (30)/(100) \\ \sf 8500 + 8500 * R - 8500 &= \sf 8500R \\ \sf 8500R &= \sf 8500 \\ \sf R &= \sf (8500)/(8500) \\ \sf R &= \sf 1 \\ \end{align} \\`

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Answer 2

Explanation:

Given:

Invested $8500

After 30% tax, he got $166

Solution:

Formula you need:

I = PRt where

I = interest he got before taxes

P = principal, amounted invested = 8500

R = rate, that's what we are looking for

t = time, only 1 year lapsed = 1

Need to solve for I first to use formula:

We know: After 30% tax, he got $166

Interest is what he got before taxes.

Which is:

I (1-.3) = 166

I = 166/.7

I = 237.14

Now we plug to find R:

I = PRt

237.14 = 8500(R)(1)

R = 237.14/8500

R = .027899

R = 2.8%