Mathematics: 225 grams of flour are needed to make 9 cakes. marian wants to make 20 of these cakes. she has 475 grams of flour. does marian have enough flour to make 20 cakes?

225 grams of flour are needed to make 9 cakes. marian

matthewt894

10.11.2020

Given:

Principal value = $1500

Rate of interest = 7% per annum compounded daily

Time = 2 years.

To find:

The amount after 2 years.

Solution:

Formula for amount:

$A=P\left(1+\dfrac{r}{n}\right)^{nt}$

Where, P is principal, r is the rate of interest in decimals, n is the number of time interest compounded in an year and t is the number of years.

We know that 1 year is equal to 365 days and the interest compounded daily. So, n=365.

Substituting $P=1500,\ r=0.07,\ n=365,\ t=2$ in the above formula, we get

$A=1500\left(1+\dfrac{0.07}{365}\right)^{365(2)}$

$A=1500\left(\dfrac{365+0.07}{365}\right)^{730}$

$A=1500\left(\dfrac{365.07}{365}\right)^{730}$

Using calculator, we get

$A\approx 1725.39$

The amount after two years is $1,725.39. Therefore, the correct option is (c).

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