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Wcnks :ect Lhint: &:3 Years Years

This document contains multiple word problems involving calculating simple interest on loans with various principal amounts, interest rates, and time periods. It asks the reader to calculate simple interest, total interest paid, and total repayment amounts for different loans and finance options. It also contains two questions asking the reader to recommend the better of two finance packages for borrowing money based on calculating the interest amounts.

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Tooba Aamir
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48 views1 page

Wcnks :ect Lhint: &:3 Years Years

This document contains multiple word problems involving calculating simple interest on loans with various principal amounts, interest rates, and time periods. It asks the reader to calculate simple interest, total interest paid, and total repayment amounts for different loans and finance options. It also contains two questions asking the reader to recommend the better of two finance packages for borrowing money based on calculating the interest amounts.

Uploaded by

Tooba Aamir
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Calculate the simple interest on each of the following loans. $t Z 000 at 9"/o p.a. for 4 years $8000 at 6.5o/,p.a. for 7 years izs 500 at 7'30/op.a. for 5 years $t+ 600 for rg months at g% p.a. $qOO for 30 months at 5.8% p.a. Peter borrows $sooo

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Nicole borrows $2400 from a finance company for years 2 at r3"/o p.a. simple interest. : How much interest will she pay? 'r How much, incruding interest, wiI Nicole have to repay the finance company?

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.'.:,, David borrows $l I 000 from a finance company for years 3 atgo/op.a. , How much interest must he pay? David must also pay the finance company a service fee of $50, as well as the interest. Calculate the total amount David wi[ have to repay the finance company.
$ r 0 000. The finance company charges simpre interest and it wiil rend Maya the money for 3 years at z *t p.a. or for 4 years at 5'9o/o p.a. under which option wiil she pay the reast amount of interest?

Maya wants to borrow

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Nabil wishes to borrow $t: ooo to buy a motorbir<e. He has the choice of two different finance packages.

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It wasn't until the religious community decided'usury' (lending money for interest) was no longer a sin that the banking industri

which package do you recommend that Nabir take? Give reasons, including a calculation, for your answer. Chapter
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became a respeca5 and importan: par: society.

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Cars and mobile phones

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