On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum is rupees 12 find the sum of money?

Question

On what sum of money will the difference between the compound interest and simple interest for 2years be equal to Rs 25 if the rate of interest charged for both is 5% p.a. 

Use the formula of compound interest and simple interest to get the principal amount.

The correct answer is: Rs 10000

Complete step by step solution:Let the principal amount = PIt is given that the rate of interest R = 5% and number of years T = 2 years.So, compound interest for 2 years = Simple  interest for 2 years = It is given that compound interest - simple interest = 25 RupeesThat is,  Rupees.Hence the principal amount = Rs 10000

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Related Questions to study

Maths-

At what rate % p.a will a sum of  Rs4000 yield 1324 as compound interest in 3 yrs 

Complete step by step solution:
We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)
We know that …(ii)
Here, we have T = 3 years, P = 4000 and    R = ?
On substituting the known values in (ii), we get 
Given that CI = 1324,
On substituting the known values in (i), we get 
On adding 4000 on both the sides, we have 
Divide on both sides by 4000.
On dividing we have,

So, at 10% pa per annum will a sum of Rs 4000 yield 1324 as compound interest in 3 years.

At what rate % p.a will a sum of  Rs4000 yield 1324 as compound interest in 3 yrs 

Maths-General

Complete step by step solution:
We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)
We know that …(ii)
Here, we have T = 3 years, P = 4000 and    R = ?
On substituting the known values in (ii), we get 
Given that CI = 1324,
On substituting the known values in (i), we get 
On adding 4000 on both the sides, we have 
Divide on both sides by 4000.
On dividing we have,

So, at 10% pa per annum will a sum of Rs 4000 yield 1324 as compound interest in 3 years.

Maths-

The compound interest, calculated yearly, on a certain sum of money for the second year is Rs1320 and for the third year is Rs1452. Calculate the rate of interest and the original sum of money.

Complete step by step solution:
Compound interest for third year = Rs 1452 Rupees
Compound interest for second year = Rs 1320 Rupees
So, difference = 1452 - 1320 = 132 Rupees.
Hence interest for third year = Rs 132 (simple interest and compound interest for 1 year is same)
We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have SI = 132,P = 1320 ,T = 1 and R = ?
On substituting the known values in (i), we get

Let the principal amount = P
Amount after 1st year - Amount after 2nd year = Rs 1320

 Rs
Hence rate of interest is 10% and original money is 12000 Rupees.

The compound interest, calculated yearly, on a certain sum of money for the second year is Rs1320 and for the third year is Rs1452. Calculate the rate of interest and the original sum of money.

Maths-General

Complete step by step solution:
Compound interest for third year = Rs 1452 Rupees
Compound interest for second year = Rs 1320 Rupees
So, difference = 1452 - 1320 = 132 Rupees.
Hence interest for third year = Rs 132 (simple interest and compound interest for 1 year is same)
We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have SI = 132,P = 1320 ,T = 1 and R = ?
On substituting the known values in (i), we get

Let the principal amount = P
Amount after 1st year - Amount after 2nd year = Rs 1320

 Rs
Hence rate of interest is 10% and original money is 12000 Rupees.

Maths-

Ranbir borrows  Rs20,000 at 12% per annum compound interest. If he repays  Rs8400 at the end of the first year and  Rs9680 at the end of the second year. Find the amount of loan outstanding at the beginning of the third year.

Complete step by step solution:
Money borrowed by Ranbir at 12% compound interest, that is  = Rs 20000
For first year,
We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)
Here we have …(ii)
Here, we have T = 1 years, P = 20000 , R = 12% and A = ?
On substituting the known values in (ii), we get 
On substituting the known values in (i), we get

 Rs
Thus total amount after 1 year = 20000+2400=22400 Rupees.
Money repaid = Rs 8400
∴ Balance = 22400 - 8400 = 14000 Rupees.
For second year,
Here, we have T = 1 years, P = 14000 , R = 12% and A = ?
On substituting the known values in (ii), we get 
On substituting the known values in (i), we get 
 Rs
Thus total amount after 1 year = 14000+1680=15680 Rupees.
Money paid at the end of second year by Ranbir = Rs 9680
∴ Loan at the beginning of third year = 15680 - 9680 = Rs 6000

Ranbir borrows  Rs20,000 at 12% per annum compound interest. If he repays  Rs8400 at the end of the first year and  Rs9680 at the end of the second year. Find the amount of loan outstanding at the beginning of the third year.

Maths-General

Complete step by step solution:
Money borrowed by Ranbir at 12% compound interest, that is  = Rs 20000
For first year,
We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)
Here we have …(ii)
Here, we have T = 1 years, P = 20000 , R = 12% and A = ?
On substituting the known values in (ii), we get 
On substituting the known values in (i), we get

 Rs
Thus total amount after 1 year = 20000+2400=22400 Rupees.
Money repaid = Rs 8400
∴ Balance = 22400 - 8400 = 14000 Rupees.
For second year,
Here, we have T = 1 years, P = 14000 , R = 12% and A = ?
On substituting the known values in (ii), we get 
On substituting the known values in (i), we get 
 Rs
Thus total amount after 1 year = 14000+1680=15680 Rupees.
Money paid at the end of second year by Ranbir = Rs 9680
∴ Loan at the beginning of third year = 15680 - 9680 = Rs 6000

Maths-

The present population of a town is 200000. Its population increases by 10% in the first year and 15% in the second year. Find the population of the town at the end of the two years.

Complete step by step solution:
Present population of the town P = 200000,
We calculate the total population at the end of first year by the formula …(i)
Here, we have T = 1 years, P = 200000 ,R = 10% and A = ?
On substituting the known values in (i), we get

Hence total population at the end of first year = 220000
So the new population is 220000
Now the formula to find total population at the end of two years =  …(ii)
Here, we have T = 1 years, P = 220000 , R = 15%(increases) and A = ?
On substituting the known values in (ii), we get

Hence total population at the end of second year = 253000

The present population of a town is 200000. Its population increases by 10% in the first year and 15% in the second year. Find the population of the town at the end of the two years.

Maths-General

Complete step by step solution:
Present population of the town P = 200000,
We calculate the total population at the end of first year by the formula …(i)
Here, we have T = 1 years, P = 200000 ,R = 10% and A = ?
On substituting the known values in (i), we get

Hence total population at the end of first year = 220000
So the new population is 220000
Now the formula to find total population at the end of two years =  …(ii)
Here, we have T = 1 years, P = 220000 , R = 15%(increases) and A = ?
On substituting the known values in (ii), we get

Hence total population at the end of second year = 253000

Maths-

In what time will Rs1500 yield  Rs1996.50 as compound interest at 10% per annum compounded annually? 

Complete step by step solution:
We calculate the total amount by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have R = 10% ,P = 1500 , A = 1996.5 and T = ?
On substituting the known values in (i), we get 
On dividing both the sides by 1500, we have

T = 3 years
In 3 years will Rs 1500 yield Rs 1996.50 as compound interest at 10% per annum compounded annually.

In what time will Rs1500 yield  Rs1996.50 as compound interest at 10% per annum compounded annually? 

Maths-General

Complete step by step solution:
We calculate the total amount by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have R = 10% ,P = 1500 , A = 1996.5 and T = ?
On substituting the known values in (i), we get 
On dividing both the sides by 1500, we have

T = 3 years
In 3 years will Rs 1500 yield Rs 1996.50 as compound interest at 10% per annum compounded annually.

Maths-

Mr. utter invested  Rs5000 at a certain rate of interest, compounded annually for two years. At the end of the first year, it amounts to  Rs5325. Calculate (i) The rate of interest (ii) The amount at the end of the second year, to the nearest rupee.

Complete step by step solution:
(i) We calculate the total amount by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1 years, P = 500, A = 5325 and R = ?
On substituting the known values in (i), we get 
On dividing both the sides by 5000, we have 1.065 =

(ii) By the end of first year principal amount becomes, P = 5325 Rupees
We calculate amount at the end of second year by the formula …(ii)
Here, we have T = 1 years, P = 5325, R = 6.5 and A = ?
On substituting the known values in (ii), we get

 Rupees(approx)
Hence the amount at end of second year = 5671 Rupees

Mr. utter invested  Rs5000 at a certain rate of interest, compounded annually for two years. At the end of the first year, it amounts to  Rs5325. Calculate (i) The rate of interest (ii) The amount at the end of the second year, to the nearest rupee.

Maths-General

Complete step by step solution:
(i) We calculate the total amount by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1 years, P = 500, A = 5325 and R = ?
On substituting the known values in (i), we get 
On dividing both the sides by 5000, we have 1.065 =

(ii) By the end of first year principal amount becomes, P = 5325 Rupees
We calculate amount at the end of second year by the formula …(ii)
Here, we have T = 1 years, P = 5325, R = 6.5 and A = ?
On substituting the known values in (ii), we get

 Rupees(approx)
Hence the amount at end of second year = 5671 Rupees

Maths-

On a certain sum of money, the difference between the compound interest for a year payable half-yearly and the simple interest for a year is  16. Find the sum lent out; if the rate of interest in both cases is 8%.

Complete step by step solution:
Let the sum of money = P
It is given that rate of interest R = 8% and number of years T = 1
Also Compound interest - Simple interest = CI - SI  = Rs 16
We calculate simple interest by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1 years, R = 8%  and P = ?
On substituting the known values in (i), we get …(ii)
We calculate compound interest by the formula …(iii) payable half yearly
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1,R = 8% and P = ?
On substituting the known values in (iii), we get

…(iv)
We have 
On further simplifications, we have

Hence the sum of money P = 10000 Rupees.

On a certain sum of money, the difference between the compound interest for a year payable half-yearly and the simple interest for a year is  16. Find the sum lent out; if the rate of interest in both cases is 8%.

Maths-General

Complete step by step solution:
Let the sum of money = P
It is given that rate of interest R = 8% and number of years T = 1
Also Compound interest - Simple interest = CI - SI  = Rs 16
We calculate simple interest by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1 years, R = 8%  and P = ?
On substituting the known values in (i), we get …(ii)
We calculate compound interest by the formula …(iii) payable half yearly
where P is Principal amount, T is number of years and R is rate of interest
Here, we have T = 1,R = 8% and P = ?
On substituting the known values in (iii), we get

…(iv)
We have 
On further simplifications, we have

Hence the sum of money P = 10000 Rupees.

Maths-

A   person invests  Rs6000 at 14% interest for 2 years. Calculate(i) the interest for the 1st year(ii)   the amount at the end of the first year(iii) the interest for the second year.

Complete step by step solution:
(i) We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest
Let the sum of money P = 6000 Rs
Here, we have T = 1 years, R = 14% and P = 6000 Rs
On substituting the known values in (i), we get

We have SI = 840 Rupees as the interest for 1st year.
(ii)  Formula for total amount = A = P + SI,
where A is the total amount, P is the principal amount and SI is simple interest .
We have P = 6000 and SI = 840.
On substitution, we get A = 6000 + 840 = 6840 Rupees.
The amount at the end of first year = 6840 Rupees.
(iii) By the end of first year principal amount becomes, P = 6840 Rupees
We calculate simple interest for the second year by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Let the sum of money P = 6840 Rs
Here, we have T = 1 years, R = 14% and P = 6840 Rs
On substituting the known values in (i), we get

We have SI = 957.6 Rupees as the interest for 2nd year.
Hence option C is the correct answer.

A   person invests  Rs6000 at 14% interest for 2 years. Calculate(i) the interest for the 1st year(ii)   the amount at the end of the first year(iii) the interest for the second year.

Maths-General

Complete step by step solution:
(i) We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest
Let the sum of money P = 6000 Rs
Here, we have T = 1 years, R = 14% and P = 6000 Rs
On substituting the known values in (i), we get

We have SI = 840 Rupees as the interest for 1st year.
(ii)  Formula for total amount = A = P + SI,
where A is the total amount, P is the principal amount and SI is simple interest .
We have P = 6000 and SI = 840.
On substitution, we get A = 6000 + 840 = 6840 Rupees.
The amount at the end of first year = 6840 Rupees.
(iii) By the end of first year principal amount becomes, P = 6840 Rupees
We calculate simple interest for the second year by the formula …(i)
where P is Principal amount, T is number of years and R is rate of interest
Let the sum of money P = 6840 Rs
Here, we have T = 1 years, R = 14% and P = 6840 Rs
On substituting the known values in (i), we get

We have SI = 957.6 Rupees as the interest for 2nd year.
Hence option C is the correct answer.

Maths-

At what percent by simple interest will a sum of money double itself in 5 years 4 months?

Complete step by step solution:
Formula for total amount = A = P + SI…(i)
where A is the total amount, P is the principal amount and SI is simple interest .
Here, A = 2P and SI = 
where P is Principal amount, T is number of years and R is the rate of interest.
We have, T = 5 years and 4 months =  years (given) and R = ?
On substituting the known values in (i), we have .
Subtract P from both sides.
Then we have,

So, we have R = 18.75%
At 18.75% per annum the sum amount will double itself in 5 years and 4 months.

At what percent by simple interest will a sum of money double itself in 5 years 4 months?

Maths-General

Complete step by step solution:
Formula for total amount = A = P + SI…(i)
where A is the total amount, P is the principal amount and SI is simple interest .
Here, A = 2P and SI = 
where P is Principal amount, T is number of years and R is the rate of interest.
We have, T = 5 years and 4 months =  years (given) and R = ?
On substituting the known values in (i), we have .
Subtract P from both sides.
Then we have,

So, we have R = 18.75%
At 18.75% per annum the sum amount will double itself in 5 years and 4 months.

Maths-

A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

Complete step by step solution:
Let the sum of money = P and rate of interest = R
Case Ⅰ
We calculate simple interest by the formula, 
where P is Principal amount, T is number of years and R is rate of interest
We are given T = 4.
So, Simple interest for 4 years = 
Formula for total amount = A = P + SI,
where A is the total amount, P is the principal amount and SI is simple interest .
We have A = 1240 and .
On substitution, we get …(i)
Case Ⅱ
We calculate simple interest by the formula, 
Here we have T = 6.
So, Simple interest for 6 years = SI = 
Formula for total amount = A = P + SI,
We have A = 1360 and SI = .
On substitution, we get A = 1360 = p + …(ii)
Form (i) and (ii), we have

This can be written as 
On cross multiplication, we get 13600 + 544R = 12400 + 744R
On rearranging the above equation, we get 200R = 1200
Divide on both sides by 200.
On dividing, we get R = 6%
Substitute R = 6% in (ii).
Then we get 1360 = p +

On simplifications, we get P = 1000.
So principal amount P = 1000 Rupees.

A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

Maths-General

Complete step by step solution:
Let the sum of money = P and rate of interest = R
Case Ⅰ
We calculate simple interest by the formula, 
where P is Principal amount, T is number of years and R is rate of interest
We are given T = 4.
So, Simple interest for 4 years = 
Formula for total amount = A = P + SI,
where A is the total amount, P is the principal amount and SI is simple interest .
We have A = 1240 and .
On substitution, we get …(i)
Case Ⅱ
We calculate simple interest by the formula, 
Here we have T = 6.
So, Simple interest for 6 years = SI = 
Formula for total amount = A = P + SI,
We have A = 1360 and SI = .
On substitution, we get A = 1360 = p + …(ii)
Form (i) and (ii), we have

This can be written as 
On cross multiplication, we get 13600 + 544R = 12400 + 744R
On rearranging the above equation, we get 200R = 1200
Divide on both sides by 200.
On dividing, we get R = 6%
Substitute R = 6% in (ii).
Then we get 1360 = p +

On simplifications, we get P = 1000.
So principal amount P = 1000 Rupees.

Maths-

The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

Complete step by step solution:
Let the sum of money = P
It is given that the simple interest SI is  of the sum, SI =  P
Also given that rate percent and time, both are equal.
That is, R = T
We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest

Here, we have 
On substituting the known values in (i), we get 
On dividing both the sides by P, we get

Given that rate of interest = time , so R = T = 8
Hence rate percent (R) = 8% and number of years = 8 years

The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

Maths-General

Complete step by step solution:
Let the sum of money = P
It is given that the simple interest SI is  of the sum, SI =  P
Also given that rate percent and time, both are equal.
That is, R = T
We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest

Here, we have 
On substituting the known values in (i), we get 
On dividing both the sides by P, we get

Given that rate of interest = time , so R = T = 8
Hence rate percent (R) = 8% and number of years = 8 years

Maths-

At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

Complete step by step solution:
We know the formula for total amount = A = P + SI…(i)
where A is the total amount, P is the principal amount and SI is simple interest.
Here, we have A = 4734 Rs and P = 3600 Rs
On substituting the known values in (i), we get SI = 4734 - 3600 = 1134
So, we have SI = 1134 Rs
We calculate simple interest by the formula,…(ii)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have SI = 1134,P = 3600 ,T = 3.5 and R = ?
On substituting the known values in (ii), we get

Hence the rate of interest R is 9%.
At 9% per annum, simple interest will be Rs 3600 amount to Rs 4734 in 3.5 years.

At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

Maths-General

Complete step by step solution:
We know the formula for total amount = A = P + SI…(i)
where A is the total amount, P is the principal amount and SI is simple interest.
Here, we have A = 4734 Rs and P = 3600 Rs
On substituting the known values in (i), we get SI = 4734 - 3600 = 1134
So, we have SI = 1134 Rs
We calculate simple interest by the formula,…(ii)
where P is Principal amount, T is number of years and R is rate of interest
Here, we have SI = 1134,P = 3600 ,T = 3.5 and R = ?
On substituting the known values in (ii), we get

Hence the rate of interest R is 9%.
At 9% per annum, simple interest will be Rs 3600 amount to Rs 4734 in 3.5 years.

Maths-

A group of friends decided to divide the  cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the  cost equally, but each friend's share of the cost increased by.  How many friends were in the group originally?

Explanation:

• We have given a group of friends decided to divide  equally, two of them decided to not go on the trip, then the remaining friend’s share of the cost increases by   
• We have to find the number for people were in the group originally .

Step 1 of 2:
Let the number of friends were in the group originally be x.
Then, Contribution of each friend will be .
Now, when two friends decided not to go on trip
Then,
Contribution of each friend become

Step 2 of 2:
According to question, the new cost per friend increased by .
So,

Now we have to solve this above equation.
So,

On further calculation,

Step 3 of 3:
Using factorisation method, we solve above quadratic equation
So,

So, the solutions will be
x = -8
x = 10
Since, The number friends can not be negative.
So,  Will be rejected.
Therefore, x = 10 is the correct answer.
Final answer:
Hence, Number of friends were in the group originally is 10.

A group of friends decided to divide the  cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the  cost equally, but each friend's share of the cost increased by.  How many friends were in the group originally?

Maths-General

Explanation:

• We have given a group of friends decided to divide  equally, two of them decided to not go on the trip, then the remaining friend’s share of the cost increases by   
• We have to find the number for people were in the group originally .

Step 1 of 2:
Let the number of friends were in the group originally be x.
Then, Contribution of each friend will be .
Now, when two friends decided not to go on trip
Then,
Contribution of each friend become

Step 2 of 2:
According to question, the new cost per friend increased by .
So,

Now we have to solve this above equation.
So,

On further calculation,

Step 3 of 3:
Using factorisation method, we solve above quadratic equation
So,

So, the solutions will be
x = -8
x = 10
Since, The number friends can not be negative.
So,  Will be rejected.
Therefore, x = 10 is the correct answer.
Final answer:
Hence, Number of friends were in the group originally is 10.

Maths-

Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

Explanation:

• We have given Jaime the goal is to bicycle an average of at least 280  miles per week, He bicycled miles 240 in the first week, 310 miles in the second week, and  320 miles in the third week.
• We have to find the inequality which represents the distance he has to travel on the fourth day to meet his goals.
• We will first let the distance covered on  day be x and then find the average and then make the inequality.

Step 1 of 1:
As we have given Jaime goal is to bicycle at least 280 miles per week
Now,
let the distance covered on  day be x .
So, The average distance of four days will be

Now, for completing the goal, this average must be greater than or equal to 280 .
So,

On simplification,
We will get,

So, Option (D) is correct.
Final answer:
Hence, The inequality that represents the distance covered on the fourth day, so that Jaime can
complete his goals is 
So, Option (D) is correct.

Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

Maths-General

Explanation:

• We have given Jaime the goal is to bicycle an average of at least 280  miles per week, He bicycled miles 240 in the first week, 310 miles in the second week, and  320 miles in the third week.
• We have to find the inequality which represents the distance he has to travel on the fourth day to meet his goals.
• We will first let the distance covered on  day be x and then find the average and then make the inequality.

Step 1 of 1:
As we have given Jaime goal is to bicycle at least 280 miles per week
Now,
let the distance covered on  day be x .
So, The average distance of four days will be

Now, for completing the goal, this average must be greater than or equal to 280 .
So,

On simplification,
We will get,

So, Option (D) is correct.
Final answer:
Hence, The inequality that represents the distance covered on the fourth day, so that Jaime can
complete his goals is 
So, Option (D) is correct.

Maths-

A website-hosting service charges businesses a onetime setup fee of  plus  dollars for each month. If a business owner paid  for the first 12 months, including the setup fee, what is the value of   ?

Explanation:

• It is given that the website hosting service charges a one-time setup fee of and  dollar for each month and the owner paid  for the first  months.

• We have to find the value of 
• We will first make a general equation for  x months and then by putting the all values, we can easily find the value  .
• Step 1 of 1:
  We know that the hosting service charges a one-time setup fee of  and  dollar for each month.
  Now, for one month they charge  a dollar.
  So, For 12 months, They will charge 12×
  And the initial setup charge is  .
  So, The total amount will be
   dollar.
  

Step 2 of 2:
Now it is given that for the first 12 months the total charge is .
So,

On further calculation,

Therefore, Option (D) is correct.
Final answer:
Hence, The value of   is 55
So, Option (D) is correct

A website-hosting service charges businesses a onetime setup fee of  plus  dollars for each month. If a business owner paid  for the first 12 months, including the setup fee, what is the value of   ?

Maths-General

Explanation:

• It is given that the website hosting service charges a one-time setup fee of and  dollar for each month and the owner paid  for the first  months.

• We have to find the value of 
• We will first make a general equation for  x months and then by putting the all values, we can easily find the value  .
• Step 1 of 1:
  We know that the hosting service charges a one-time setup fee of  and  dollar for each month.
  Now, for one month they charge  a dollar.
  So, For 12 months, They will charge 12×
  And the initial setup charge is  .
  So, The total amount will be
   dollar.
  

Step 2 of 2:
Now it is given that for the first 12 months the total charge is .
So,

On further calculation,

Therefore, Option (D) is correct.
Final answer:
Hence, The value of   is 55
So, Option (D) is correct

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