By Bamberg P., Sternberg S.

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A) £9-43 (B) £1811 (c) £8-49 (D) £9-8 2. Find the interest on £1850 for 2 years and 6 months at 4% a year. (A) £7400 (B) £185-00 ...... (c) £11100 (D) £277-50 3. How much interest will be charged for a loan of £275 for 3 months if the rate is 4i% a year? 1 lend £60 000 for 2 years. On } of it I receive 4% interest, on the balance I receive 5% interest. What is the total amount of interest money I receive? (A) £2600 (B) £5200 (c) £520 (D) £5600 5. At what rate will £300 yield £67-50 interest in 4 years and 6 months?

Using the compound interest table on page 47 calculate the amounts of the following investments: (i) £100 at 3% for 4 years; (ii) £1000 at 5% for 7 years; (iii) £10 at 7% for 3 years. 10. Calculate the principal which needs to be invested at 5% compound interest, paid annually, in order to realize an amount of £1000 in 8 years. 11. The rateable value of a house is £400. The rates are 57p in the £. How much does the owner pay this coming year? 12. The yield of a penny-rate in a borough is £24 0ΟΌ.

To find the exact number of days between dates in different years: 1. Find the number of years and days by the method used to determine time for exact interest. 2. Multiply the number of years by 365 and add to this the separate number of days as previously found. 3. Add one day for every leap year occurring in the full years included in the interval. EXAMPLE 3: What is the exact number of days between October 15, 1937, and March 11, 1945? SOLUTION : By Example 2 we found that this interval contained 7 years and 147 days.