Question

1.Which of the following is the sale price for an item with an original price of $9.99

after it has been discounted 35%


2.Joe borrowed 1500$ from the bank at a rate of 8% simple interest per year.Over the course of three years,how much interest did he pay?

Answer 1

Sale Price= $ 15.37

Interest= $ 360 for three years

Explanation:

Discounted Price = $9.99

Sale Price = $ 9.99*100/65= $ 15.37

2. Simple Interest= Principal * time* rate= $1500 * 3* 8/100=$ 360

Answer 2

Explanation:

1) The initial price of the item is $9.99. The initial price was reduced by 35%. This means that the amount by which the initial price was reduced would be

30/100 × 9.99 = 0.35 × 9.99 = $3.4965

Therefore the sale price would be

9.99 - 3.4965 = $6.4935

2) The formula for simple interest is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

T = 3 years

P = $1500

R = 8%

Therefore

I = (1500 × 8 × 3)/100

I = 36000/100

I = $360