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help!

This topic has 3 member replies
cooljam250 Newbie | Next Rank: 10 Posts Default Avatar
Joined
16 Sep 2006
Posted:
7 messages

help!

Post Thu Jan 04, 2007 9:06 am
hey guys,

does anyone know how to solve these two questions?

1. The price of a left-handed widget increased 20% in 1981 and 10% in 1982. By approximately what percent would the price at the end of 1982 have to be decreased to restore the price of the widget to its pre-1981 price?

a) 40%
b)35%
c)30%
d)26%
e)24%



2. Particia invested a sum of money at an annual simple interest rate of 10 1/2% (10 and a half percent). AT the end of 4 years the amount invested plus interest earned was $781.00. What was the dollar amount of the original investment?

a)$231.84
b)$318.16
c)$550.00
d)$750.00
e)$781.84


ANS #1 = 24%

ANS #2=$550.00


Thank you!

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cooljam250 Newbie | Next Rank: 10 Posts Default Avatar
Joined
16 Sep 2006
Posted:
7 messages
Top Reply
Post Fri Jan 05, 2007 5:23 pm
thanks guys, i understand it now Exclamation

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thankont Senior | Next Rank: 100 Posts
Joined
15 Dec 2006
Posted:
41 messages
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Top Reply
Post Fri Jan 05, 2007 12:46 am
careful here because they want simple interest and not compound
original amount -->x
simple interest after 4 yrs. -->4x(0.105) = 0.42x
so we have after 4 yrs. --> 1.42x = 781 => x = 550

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cooljam250 Newbie | Next Rank: 10 Posts Default Avatar
Joined
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Posted:
7 messages
Post Fri Jan 05, 2007 5:23 pm
thanks guys, i understand it now Exclamation

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