Question

Suppose you have $200,000 in a bank term account. You earn 5% interest per annum from his account

Answer 1

$190,000

Explanation:

discount = x

original price = $200,000

discount% = 5%

x/200,000 = 5/100

x · 100 = 5 · 200,000

100x = 1,000,000

100x/100 = 1,000,000/100

x = 10,000

Sale price: $200,000 - $10,000 = $190,000