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secondary 4 | E Maths
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Date Posted: 4 years ago
Views: 205
What is the discounted price from part a)? $1812.50?
Assuming a discounted price of $1812.50 :
Portion of the discounted price that incurs interest
= $1812.50 x 40%
= $725
Since total interest paid in 16 months
= $34.80,
Interest paid in 1 year/per annum
= Interest paid for 12 months
= $34.80 x 12/16
= $26.10
Interest per annum as a percentage of amount ($725)
= 26.10/725 x 100%
So 26.10/725 x 100 % = x %
3.6% = x%
x = 3.6
Portion of the discounted price that incurs interest
= $1812.50 x 40%
= $725
Since total interest paid in 16 months
= $34.80,
Interest paid in 1 year/per annum
= Interest paid for 12 months
= $34.80 x 12/16
= $26.10
Interest per annum as a percentage of amount ($725)
= 26.10/725 x 100%
So 26.10/725 x 100 % = x %
3.6% = x%
x = 3.6
Can we see the whole question, including part (a)?
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