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!
help!
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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
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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