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QMI1500 Assignment 03 Semester 01 2020 Suggested Solutions
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NB: THIS DOCUMENT SHOWS MY MANUAL WORKINGS AS WELL AS MY WORKINGS ON A SHARP EL-738F CALCULATOR.
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QMI1500Elementary Quantitative Methods
Department of Decision Sciences
Assignment 03 for Semester 01 (compulsory)
Unique Number 639880
Preview of Question 1
If you invest R5 000 at a simple interest rate of 9% per annum for ten years, what is the total
interest that you receive?
[1] R4 500
[2] R2 280
[3] R450
[4] R5 450
Answer:
Using the Sharp EL-738F Calculator:
5000(9 ÷ 100 × 10) = 4 500
OR:
𝐼 = 𝑃𝑟𝑡
𝑃 = 5 000
𝑟 = 0.09
𝑡 = 10
𝐼 = 5 000 × 0.09 × 10 = 4 500
NB: THIS DOCUMENT SHOWS MY MANUAL WORKINGS AS WELL AS MY
WORKINGS ON A SHARP EL-738F CALCULATOR IN THE FOLLOWING
FORMAT:
,
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