Pat deposits $600 in a savings account at a simple interest rate 6% per year for 5 years. How much money will Pat have earned in interest at the end of 5 years?

A. $360

B. $180

C. $95

D. $36

Answer Explanation:

In the simple interest, we utilize the following formula to find the simple interest after a period of time in years.

I=P*r*t

I is the interest

P=Principal or initial deposit

r=rate

t=time in years

From the given problem, P=$600, r=6%=6/100=0.06, t=5 years. Then

I=$600*0.06*5=$180

After 5 years, Pat will earn an interest of $180.

Therefore, the Correct Answer is B.

Q #1: A pudding recipe for 50 people calls for 4 cups of sugar. Each bag of sugar contains 6 cups. How many bags of sugar will be needed to make this recipe for 300 people?

A. 8 bags

B. 13 bags

C. 4 bags

D. 24 bags

Answer Explanation

We need to perform a series of numerical dimensional analysis to find the number of bags sugar needed for 300 people.

We are told that 50 people need 4 cups of sugar. This can be interpretated as:

Or

Also, one bag of sugar contains 6 cups. This can also be presented as:

Or

We use the second option relating number of people and cups, and second option relating cups of sugar and bag of sugar to find for number of bags of sugar needed for 300 people.

Therefore, 300 people will need 4 bags of sugar.
Q #2: A local law school reports that 74% of last year's graduates are employed by law firms, 3% work for the government and 2% work for nonprofit organizations. The rest of the graduates work at jobs unrelated to law. Based on these outcomes, which of the following is the percentage of graduates working jobs unrelated to law?

A. 5%

B. 79%

C. 69%

D. 21%

Answer Explanation

Percentages always add up to 100%. If we let x be the percent of graduates working for jobs unrelated to law, then

74%+3%+2%+x=100%

79%+x=100%

Subtract 79% from both sides of the equation

79%-79%+x=100%

x=100%-79%

x=21%

So, the number of graduates working for jobs unrelated to law is 21%.
Q #3: A survey of 500 teenagers was taken to see which sport was the favorite to watch on television. The pie chart above represents the results. Which of the following data sets (number of teenagers) was used to develop the pie chart?

A. Basketball, 120: football, 190: hockey, 90: soccer, 80: other 20

B. Basketball, 120: football, 190: hockey, 80: soccer, 90: other 20

C. Basketball, 190: football, 120: hockey, 90: soccer, 80: other 20

D. Basketball, 240: football, 380: hockey 160: soccer, 180: other 40

Answer Explanation

The whole pie chart represents 100%, which we use together with the given percentages to find the respective different sports. Note that 100% is equal to 500 surveyed students. The, the number of teenagers who prefer:

Soccer

Hockey

Football

Basketball

Other

From the evaluations above, 90 teenagers love soccer, 80 love hockey, 190 teenagers love football, 120 teenagers love basketball, and 20 teenagers love others.