Pat deposits $600 in a savings account at a simple interest rate 6% per year for 5 years. How much money will Pat have earned in interest at the end of 5 years?
$360
$180
$95
$36
Correct Answer : B
In the simple interest, we utilize the following formula to find the simple interest after a period of time in years.
I=P*r*t
I is the interest
P=Principal or initial deposit
r=rate
t=time in years
From the given problem, P=$600, r=6%=6/100=0.06, t=5 years. Then
I=$600*0.06*5=$180
After 5 years, Pat will earn an interest of $180.
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Related Questions
Correct Answer is A
Explanation
to do a comparison of the given data set, we convert the fraction numbers into the approximate decimals.
4/3=1.333
2720=1.35
Now, we have 1.333, 1.35, 1.369, 1.357. These numbers are arranged from the smallest to the largest number, we look at the number in the second decimal place value
1.333 the number in second decimal place value is 3
1.35 the number in third decimal place value is 5
1.369 the number in third decimal place value is 6
1.357 the number in third decimal place value is 5
However, 1.35 and 1.357 have 5 in the second-place vale. We use the ird place value to compare the two number:
1.35 is same as 1.350 and the number in the third-place value is 0
1.357 the number in the third-place value is 7
Now, 0 is less than 7, and thus 1.35 is less than 1.357
Overall, 3 is less than 5, and 5 less than 6 and the provided numbers can be arranged from the smallest to the largest as:
1.333, 1.35, 1.357, 1.369
Thus, the corresponding given numbers organized from the smallest to the largest become:
4/3, 27/20, 1.357, 1.369
The greatest value is 1.369
Correct Answer is B
Explanation
Here we are required to find the area of the square of sides 3.1 m. The square is a four-sided figure with each side equal and opposite sides making 90 degrees.
Area of the square =side*side
Side=3.1 m
Area of the square =3.1 m *3.1 m=9.61 m2
Note: 3.1 + 3.1 = 6.2 which is a wrong answer.
Correct Answer is D
Explanation
The given ratio of yoghurt to toppings is 4:3, meaning:
Yoghurt : toppings =4 : 3
We are given 4.5 oz of toppings and need to find the amount of yoghurt.
Step 1: Set up the proportion
=
Step 2: Solve for yoghurt
Multiply both sides by 4.5:
yoghurt=43×4.5
yoghurt=4×4.5/3=18/3=6oz
Correct Answer is D
Explanation
To answer this question, we need to observe the trend of the number of days with dollars. On day 2, the dollars were 8, after 5 days, the dollars decreased to 3, after 13 days, the dollars increased to 10. After 14 days, the dollars declined to 6 and again rose to 16 dollars after 19 days.
From this observation, we cannot be able to establishany correlation between days and dollars.
Correct Answer is D
Explanation
Looking at the given trend, it is observed that the price increases with years. From 2008 to 2012, the price is fairly constant but we expect it to be more than $130,000 in the year 2016. The expected price in 2016 is $140,000.
Correct Answer is A
Explanation
all products represent 100%. Then, the portion of defect products is:
0.0025 of 100%
‘of’ means multiply
0.0025 *100%=0.25%
Correct Answer is D
Explanation
Round trip means to and from, which is twice the distance from home to a medical facility.
In one day, the round trip=19+19=38 miles
So, in 22 days, the round trip=38*22=836 miles.
The patient will cover 836 miles in 22 days.
Correct Answer is A
Explanation
From the given options, we can arrange the numbers from the smallest to the largest as:
-271.906, -193.823, 145.884, 235.971
From the above, it can be noted that -271 is less than -193 while 235 is more than 145.
Correct Answer is B
Explanation
The median temperature can be found by organizing the temperature values from the smallest to the largest value as follows:
98.6, 98.7, 99.0, 99.0,99.2, 99.3, 99.7, 100.0
(for an even set of numbers, Median = frac{(frac{n}{2})th observation + (frac{n}{2} + 1) th observation}{2})
From the data set above, there are 8temperature values. The median is the temperature value in the middle position, which falls between the(frac{n}{2} th)and((frac{n}{2} + 1) th) position. Here N=8and median is found as:
(frac{(frac{n}{2})th + (frac{n}{2} + 1) th}{2} = )(frac{(frac{8}{2})th + (frac{8}{2} + 1) th }{2} = 4.5th position)
The element in the 4.5th position is the average of the 4th and 5th element.
(frac{99.0 + 99.2}{2} = 99.1)
Thus 99.1 is the median temperature.
Correct Answer is B
Explanation
From the given scenario:
Initial charge is $40
Additional charge per circular cloth=$5c
Additional charge per rectangular cloth=$3.50r
Total cost = additional charge per circular rectangular cloths + Initial charge
Total cost, T = 5c + 3.5r + 40
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