Practice - Real-life Application in Cost Comparison
Practice Questions
Test your understanding with targeted questions
Calculate the simple interest for a principal of $2000 at a rate of 6% for 2 years.
💡 Hint: Use the formula I = P × R × T.
If 1 USD = 0.75 EUR, how much is 40 USD in EUR?
💡 Hint: Multiply the USD by the exchange rate.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the formula for calculating simple interest?
💡 Hint: Think of the terms involved in interest calculation.
True or False: The total amount from a principal amount increases with higher interest rates.
💡 Hint: Consider the relationship between principal and rate.
1 more question available
Challenge Problems
Push your limits with advanced challenges
You are comparing two savings accounts. Account A offers 4% interest for 5 years, and Account B offers 5% for 4 years on a $2000 investment. Which account yields more interest?
💡 Hint: Calculate each option's total interest earned.
An item costs 2500 JPY. If the exchange rate is 0.009 USD/JPY, what is the cost in USD?
💡 Hint: For conversion, multiply by the given rate.
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Reference links
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