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Question
(c)
Chris invests $200 at a rate of x% per year simple interest.
At the end of 15 years the total interest received is $48.
Find the value of x.
I - Px RXT
100
48= 200 x 24 x 15
48 = 30%
2= 1.6%
1.6 l..
..... [2]
(d) Dani invests $200 at a rate of y% per year compound interest.
At the end of 10 years the value of her investment is $256,
Calculate the value of y, correct to 1 decimal place.
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