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12 Oct 2012, 23:20
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1f the compound interest on a certain sum at 5% for 3 years is 1262 $ what is the simple interest
ans is 1200
the compound interest on a certain sum of 5% p.a for two years is $102.50 what is the compound interest at 4% per p.a
ans is 81.6
a rectangular box with a square base contains 6 cubic feet.if the height of the box is 18 inches how many feet are there in the side of each base
ansr is 2
a room is 10 meter long and 6 meter broad find the cost of covering its floor with the carpet 60cm wide at the rate of $2.25 per meter
ans is $225
can u please help me with explanation?
ans is 1200
the compound interest on a certain sum of 5% p.a for two years is $102.50 what is the compound interest at 4% per p.a
ans is 81.6
a rectangular box with a square base contains 6 cubic feet.if the height of the box is 18 inches how many feet are there in the side of each base
ansr is 2
a room is 10 meter long and 6 meter broad find the cost of covering its floor with the carpet 60cm wide at the rate of $2.25 per meter
ans is $225
can u please help me with explanation?
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13 Oct 2012, 00:38
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sairasheikh86
Volume is 6cu.ft. The height is 1.5ft.
6/1.5=4. Since the (square) base is 4 sq.ft, the side should be 2 ft.
Area of the room is 6x10=60sq.m
You need 10 number if 0.6 (60cm) x10 m long pieces to cover it. So the cost is 2.25x10x10= 225$
15 Oct 2012, 06:55
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Since the previous poster did not tackle the Interest question, let me contribute to that solutiion
If the compound interest on a certain sum at 5% for 3 years is 1262 $ what is the simple interest
ans is 1200
Simple Interest = Principal (P)*Rate (r)* Time (t)= Prt, since we've been given time and rate all we need to find is the Principal before we can plug in to find Simple Interest
But we've been given compound interest, and the formula for find the compounded amount (Principal + Compound Interest) is given as ====> P(1+r)^t
Therefore the formula for compound interest alone is P(1+r)^t - (P)= P [(1+R)^t - (1)]
Therefore P= C.I./[(1+R)^t - (1)]
P=1262/[(1+5%)^3 -(1)]= 1262/(0.157625)= 8000
S.I.= 8,000*5%*3 = 1200
By the way, you're unlikely to be given such numbers on the real GMAT. If they give you this kind of numbers, the answer choice would be such that a quick approximation can help you identify the right answer fast.
Hope you find this helpful.
Cheers,
Der alte Fritz.
If the compound interest on a certain sum at 5% for 3 years is 1262 $ what is the simple interest
ans is 1200
Simple Interest = Principal (P)*Rate (r)* Time (t)= Prt, since we've been given time and rate all we need to find is the Principal before we can plug in to find Simple Interest
But we've been given compound interest, and the formula for find the compounded amount (Principal + Compound Interest) is given as ====> P(1+r)^t
Therefore the formula for compound interest alone is P(1+r)^t - (P)= P [(1+R)^t - (1)]
Therefore P= C.I./[(1+R)^t - (1)]
P=1262/[(1+5%)^3 -(1)]= 1262/(0.157625)= 8000
S.I.= 8,000*5%*3 = 1200
By the way, you're unlikely to be given such numbers on the real GMAT. If they give you this kind of numbers, the answer choice would be such that a quick approximation can help you identify the right answer fast.
Hope you find this helpful.
Cheers,
Der alte Fritz.
