Interest Problems
1. **Problem:** Sheila has 25000 to invest and wants to earn 12000 interest at 5.8% per year. Find the time (years).
2. **Formula for simple interest:** $$I = P \times r \times t$$ where $I$ is interest, $P$ principal, $r$ rate (decimal), $t$ time (years).
3. Substitute values: $$12000 = 25000 \times 0.058 \times t$$
4. Solve for $t$:
$$t = \frac{12000}{25000 \times 0.058} = \frac{12000}{1450} \approx 8.28$$ years
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5. **Problem:** April sold 28500 of ads and earned 1282.50 commission. Find commission rate.
6. Formula: $$\text{Commission Rate} = \frac{\text{Commission}}{\text{Total Sales}}$$
7. Substitute:
$$\text{Rate} = \frac{1282.50}{28500} = 0.045 = 4.5\%$$
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8. **Problem:** Find principal $P$ if interest $I$ is 183.75 at rate 3.5% per year for 21 months.
9. Convert 21 months to years: $$21 \div 12 = 1.75 \text{ years}$$
10. Use $I = P \times r \times t$;
$$183.75 = P \times 0.035 \times 1.75$$
11. Solve for $P$:
$$P = \frac{183.75}{0.035 \times 1.75} = \frac{183.75}{0.06125} = 3000$$
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12. **Problem:** Elleda earned 15% commission on 75900 sale. Deposited 40% of commission at 3% interest for 2 years. Find deposit and interest earned.
13. Commission:
$$75900 \times 0.15 = 11385$$
14. Deposit:
$$11385 \times 0.40 = 4554$$
15. Interest:
$$I = 4554 \times 0.03 \times 2 = 273.24$$
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16. **Problem:** 6-piece notebook set costs 150; sales tax 6%. Find total cost.
17. Sales tax:
$$150 \times 0.06 = 9$$
18. Total cost:
$$150 + 9 = 159$$
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19. **Problem:** Marina invested 25000 at 7.5% for 3 years. Find interest earned.
20. Interest:
$$I = 25000 \times 0.075 \times 3 = 5625$$
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21. **Problem:** Carlito was given 7.5% commission amounting 1012.50. Find price of washing machine.
22. Let $C$ be cost:
$$1012.50 = 0.075 \times C \Rightarrow C = \frac{1012.50}{0.075} = 13500$$
**Final answers:**
1) 8.28 years
2) 4.5% commission rate
3) 3000 principal
4) 4554 deposit, 273.24 interest
5) 159 total cost
6) 5625 interest
7) 13500 washing machine price