1. Jimmy Wong invested $15,000 in treasury bills for three months at a simple interest rate of 7%. At the end of three months, he loaned the interest received from the treasury bills to Sue Hai for four months at a simple interest rate of 8%.What was the total interest received from the treasury bills and from Sue?
2. How long will it take for $600 to earn $90 interest if is invested at 10% simple interest?
3. Find r if I=$58.80 P= $980 and t=8 months.
4. Joe Mitchell wants to earn $49 interest in year. At what rate of simple interest should he invest $700?
5. A county charges 11% simple interest on delinquent taxes. On one account of $800 in delinquent taxes, the charge was $22.00.How long was the account overdue?
6. A refrigerator was marked down from $380 to $285.Find the markdown percent.
7. A woman's coat that regularly sells for $176 is advertised at 20% off the regular price.Find the sale price of the coat.
8. The cost price of an item is $78 , and the markon is 32% of the cost price.If the item is marked down by 20% of the selling price, what is the reduced price?
9. An item is priced at $27.40.The overhead on the item is $4.10, and the markon is $6.15.If the item is marked down to $19.95, will a sale result in a profit or a loss?
10. The cost price of a sofa $218.25, and the selling price is $275.00.Overhead is estimated to be 10% of the cost price.If the sofa is marked down by 20% of the selling price, will a sale result in a profit or a loss?