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Author Question: A restaurant had 356.87 cash on hand in the morning. Total cash receipts were 873.45 from lunch and ... (Read 147 times)

lunatika

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on: Jun 24, 2018
A restaurant had 356.87 cash on hand in the morning. Total cash receipts were 873.45 from lunch and 1,462.58 from dinner. The restaurant gave 2,200 cash to a security service at closing time. What was the amount of cash on hand?

Question 2

A bank made a 12,00 . short-term loan to a new book store and earned 187.40 interest in only 60 days. Compute the exact simple interest rate (365-day year) that the bank charged. (To nearest 1/10 of a percent.)


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fdliggud

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Reply #1 on: Jun 24, 2018
Answer to Question 1

356.87 + 873.45 + 1,462.58 = 2,692.90; 2,692.90 - 2,200.00 = 492.90

Answer to Question 2

R = I  (PT) = 187.40  (12,00 .  60/365) = 0.095 = 9.5


lunatika

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

Mochi

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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