1. In 1978 the average tuition for one year at an Ivy League school was Rs.1,950. In 2007, the average cost was Rs.14,850. What was the growth rate in tuition over the 30-year period?

2.At an inflation rate of 8.5 percent, the purchasing power of Rs.1 would be cut in half in 8.04 years. How long to the nearest year would it take the purchasing power of Rs.1 to be cut in half if the inflation rate were only 5 percent?

3.Company A is financing a new truck with a loan of Rs.20,000 to be repaid in 7 annual end-of-year installments at the rate of 11.50%, whereas, the second option with another company, Company B, is available to repay the same loan amount in 9 annual end-of-year installments at the rate of 5.5%. What option you would select?