A restaurant had 356.87 cash on hand in the morning. Total cash ...

[lunatika]

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.)

[fdliggud]

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]

TYSM

[daiying98]

Thanks for the timely response, appreciate it