Rojas Wells
01/01/2024 · Elementary School

(c) Shaun buys a smartphone on HP which costs R11 799,90. He will have to pay R639 per month for 24 months. No deposit will be required. Calculate the simple interest rate. (d) A tablet with WiFi costs R10 579. Mark buys a tablet on HP and agrees to pay a deposit of R1 500 and 36 monthly payments of R350. Calculate the total simple

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To solve the problems, we will first calculate the simple interest rate for Shaun's smartphone purchase and then calculate the total simple interest for Mark's tablet purchase. ### (c) Calculate the Simple Interest Rate for Shaun's Smartphone 1. **Cost of the smartphone (Principal)**: R11,799.90 2. **Monthly payment**: R639 3. **Number of months**: 24 4. **Total amount paid**: \[ \text{Total amount paid} = \text{Monthly payment} \times \text{Number of months} = R639 \times 24 = R15,336 \] 5. **Interest paid**: \[ \text{Interest} = \text{Total amount paid} - \text{Principal} = R15,336 - R11,799.90 = R3,536.10 \] 6. **Simple Interest Formula**: \[ I = P \times r \times t \] Where: - \( I \) = Interest - \( P \) = Principal - \( r \) = Interest rate (as a decimal) - \( t \) = Time (in years) Rearranging the formula to find \( r \): \[ r = \frac{I}{P \times t} \] Here, \( t = 2 \) years (24 months). 7. **Substituting the values**: \[ r = \frac{R3,536.10}{R11,799.90 \times 2} \] \[ r = \frac{R3,536.10}{R23,599.80} \approx 0.149 \] 8. **Convert to percentage**: \[ r \approx 0.149 \times 100 \approx 14.9\% \] ### Answer for (c): The simple interest rate is approximately **14.9%**. --- ### (d) Calculate the Total Simple Interest for Mark's Tablet 1. **Cost of the tablet**: R10,579 2. **Deposit**: R1,500 3. **Monthly payment**: R350 4. **Number of months**: 36 5. **Total amount paid**: \[ \text{Total amount paid} = \text{Deposit} + (\text{Monthly payment} \times \text{Number of months}) = R1,500 + (R350 \times 36) = R1,500 + R12,600 = R14,100 \] 6. **Interest paid**: \[ \text{Interest} = \text{Total amount paid} - \text{Cost of the tablet} = R14,100 - R10,579 = R3,521 \] ### Answer for (d): The total simple interest paid by Mark is **R3,521**.

Quick Answer

(c) The simple interest rate is approximately 14.9%. (d) The total simple interest paid by Mark is R3,521.
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