Urgent questions (1 Viewer)

[AFGHAN22]

1. This is the last pay day before Henry and Harriet go on holiday. They both receive cheques for $3000 including the 17 1/2 % holiday bonus. Henry's holiday is for 3 weeks while Harriet's is for 4 weeks. Find how much more Henry earns than Hariet in a normal working week.
Answer: Henry earns $212.77 more per week.
2. An investment of $10000 at 4% p.a. simple interest builds up to $11000. How long (in months) does it take?
Answer: 30 months

 

[Trev]

These are general questions, post them in the correct forum.

2.
$10000 at 4% p.a is $400 per year simple interest.
11000-10000 = $1000 interest made over x years.
Therefore, 1000/400 = 2.5 years taken to make the profit; 2.5*12 = 30 months.

 

[Trev]

1.
(x = amount before holiday bonus)
x + (17.5/100)x = 3000.
x = 3000/(1 + 17.5/100)
x = $2553.19 to nearest cent.
Henry's holiday is 3 weeks; therefore he makes $(2553.19/3) per week.
Harriest's holiday is 4 weeks; therefore she makes $(2553.19/4) per week.
Difference is (2553.19/3) - (2553.19/4).
= $212.77.

 

[AFGHAN22]

Thanx Trev

Thanks Trev. Your a life saver. By the way what year are you in and what level maths do you do. Thanks a lot fo your help. It has been greatly appreciated.

 

[Slidey]

Year 12. 4unit.

 

[Trev]

Cheers Slide *thumbs up* lol.