GRE Exam Numerical Ability Simple & Compound Interest

If $10,000 is invested at a simple annual interest rate of 6 percent, what is the value of the investment after half a year

Read Solution (Total 1)

we know, I = P*r*t/100
=> I = 10000*6*0.5/100
= 300
so, amount= 10000+300= $10300.(ans)
9 years agoHelpfull: Yes(1) No(0)

GRE Other Question

To produce a particular radio model, it costs a manufacturer $30 per radio, and it is assumed that if 500 radios are produced, all of them will be sold. What must be the selling price per radio to ensure that the profit (revenue from the sales minus the total production cost) on the 500 radios is greater than $8,200 If an amount P is to be invested at an annual interest rate of 3.5 percent, compounded annually, what should be the value of P so that the value of the investment is $1,000 at the end of 3 years?