A smartphone originally costs \$800. It is on sale for \$680. Calculate the percent discount.
Table of contents
- 1. Review of Real Numbers1h 33m
- 2. Linear Equations and Inequalities5h 35m
- 3. Solving Word Problems2h 39m
- 4. Graphs and Functions2h 48m
- 5. Systems of Linear Equations1h 12m
- 6. Exponents, Polynomials, and Polynomial Functions1h 27m
- 7. Factoring1h 30m
- 8. Rational Expressions and Functions2h 21m
- 9. Roots, Radicals, and Complex Numbers2h 33m
- 10. Quadratic Equations and Functions1h 23m
- 11. Inverse, Exponential, & Logarithmic Functions1h 5m
- 12. Conic Sections & Systems of Nonlinear Equations58m
- 13. Sequences, Series, and the Binomial Theorem1h 21m
3. Solving Word Problems
Percent Problem Solving
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A community center paid in simple interest after years on borrowed funds for new equipment. The interest rate was per year. What was the original amount borrowed?
A
B
\$3200
C
\$3632
D
\$3500
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Verified step by step guidance1
Identify the formula for simple interest: \(I = P \times r \times t\), where \(I\) is the interest earned, \(P\) is the principal (original amount borrowed), \(r\) is the annual interest rate (in decimal form), and \(t\) is the time in years.
Substitute the known values into the formula: \(I = 432\), \(r = 4.5\% = 0.045\), and \(t = 3\) years, so the equation becomes \$432 = P \times 0.045 \times 3$.
Simplify the right side of the equation by multiplying the interest rate and time: \$0.045 \times 3 = 0.135\(, so the equation is now \)432 = P \times 0.135$.
To solve for \(P\), divide both sides of the equation by \$0.135\(: \)P = \frac{432}{0.135}$.
This division will give you the original amount borrowed, \(P\). Perform the calculation to find the principal.
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