Answer:
Question 5
a)Simple Interest = Nu 450, Total Amount = Nu 6,450
b)Simple Interest = Nu 250, Total Amount = Nu 12,750
c)Simple Interest = Nu 2,880, Total Amount = Nu 10,880
Question 6
The amount of commission Mindu earned was Nu 4,750
Explanation:
Question 5
Simply Interest formula is given as
I = P × R × T
Total Amount = P + I
Where
P = Principal
R = Rate
T = Time in years
I = Interest
a) P = Principal = Nu 6000
R = Rate = 15% = 0.15
T = Time = 6 months , converting to years = 6/12 months = 0.5years
I = Interest = 6000 × 0.15 × 0.5
I = Nu 450
Amount = P + I
= Nu 6000 + Nu 450
= Nu 6,450
Simple Interest = Nu 450, Total Amount =Nu 6,450
b) P = Principal = Nu 12,500
R = Rate = 8% = 0.08
T = Time = 3 months , converting to years = 3/12 months = 0.25 years
I = Interest = 12,500 × 0.08 × 0.25
I = Nu 250
Amount = P + I
= Nu 12,250 + Nu 240
= Nu 12,750
Simple Interest = Nu 250, Total Amount =Nu 12,750
c) P = Principal = Nu 8000
R = Rate = 12% = 0.12
T = Time = 3years
I = Interest = 6000 × 0.12 × 3
I = Nu 2,880
Amount = P + I
= Nu 8000 + Nu 2,880
= Nu 10,880
Simple Interest = Nu 2,880, Total Amount = Nu 10,880
Question 6
We are told in the question that each month:
If sales are up to Nu 75,000, = Mindu earns 3% commission
If sales are over Nu 75,000 = Mindu earns 5% commission
Last month, Mindu has sales of Nu 95,000
Since his sales was above Nu 75,000 he earns a 5% commission
Therefore, the amount he earned as commission is calculated as:
Nu 95,000 × 5%
= Nu 4,750
Therefore, the amount of commission Mindu earned was Nu 4,750