Questions on Word Problems: Money, Business and Interest answered by real tutors!

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 20222: If the price of a $15 T-shirt is reduced by 1/5, how much sales tax must be paid onthe T-shirt in a state having a 3% sales tax?
Click here to see answer by elima(1433)

Question 20602: Please help me!!!
how many pounds of hamburger that costs $1.10 per pound must be mixed with 50 pounds of hamburger that costs $1.80 per pound to make a mixture that costs $1.30 per pound?
Click here to see answer by Paul(988)

Question 21050: This is from my 8th grade honors algebra...
Tori invested $24,000 , part at 8% and the rest at 7.2%. How much did she invest at each rate if her income from the 8% investment is two-thirds of that of the 7.2% investment?
I've made a chart...
Amount invested x rate = interest income

X x 0.08 = 0.08X = y
($24,000-X) x 0.072 = 0.072($24,000-X) = 2/3y
Then I'm totally stuck, we haven't solved with 2 unknowns yet!
Click here to see answer by Earlsdon(6287)

Question 21463: what is the total interest paid on a $6000 loan at 5 % interest in 1 year
Click here to see answer by Paul(988)

Question 21559: I need help, please. I have to solve this problem using an algebraic equation.
Heather has twice as many dimes as nickels and two more quarters than nickels. There were 22 coins in all.
a. How many quarters does she have?
b. The value of the coins is $5.50. How many quarters does she have?
Click here to see answer by Paul(988)

Question 21587: A buyer agrees to pay a lump sum of 120,000.00 in 6 years. Until then he will make monthly simple interest payments to the seller @ 12%.
a. find the amount of each interest payment
b. Buyer sets up a sinking fund to save the 120,000.00. find the size of buyers semiannual payments if the money earns 10.25%.
c. prepare table showing the amount in the sinking fund after each deposit.
Click here to see answer by Paul(988)

Question 21692: Rick's cafe ordered coffee beans from two different distributors at different prices. Rick wants to combine the two types of beans to make a mixture that costs $2.02 per pound. How many pounds of coffee beans that cost $3.00 per pound should be mixed with 7 pounds of coffee beans that cost $1.60 per pound to obtain the desired mixture?
ok, just a big old brain lapse. Thanks.
Click here to see answer by Paul(988)

Question 21688: Find three consecutive odd integers such that the product of three and the third integer is twenty-one more than two times the sum of the first two numbers.
Thank you, Thank you
Click here to see answer by Paul(988)

Question 21690: The Shmidt Valley Investment club invested $10000 at 5.1% annual simple interest. How much additional money should they invest at an annual simple interest rate of 3.5%, so that the total annual interest earned from the two accounts is 4.4% of the total investment.
Thanks, I tries this one a million times and no can do!
Click here to see answer by Paul(988)

Question 21715: Miss Sunni manages a herbicide plant. She wants a solution of 45% herbicide to be mixed with a solution of 24% herbicide to form 42 liters of a 34% solution. How many liters of the 45% solution must Miss Sunni use?
I tried using the chart method with this and not sure what to do with the 42 liters?
Thanks, any help would be appreciated!!
Click here to see answer by Paul(988)

Question 21714: Find three consecutive odd integers such that two times the sume of the first and the third integer is thirteen more than the product of three and the second number.
I did it like this, help??????
2x(x+x+4)=13+(3+x+2)
12x=help
Click here to see answer by Paul(988)

Question 21717: Translate into an equation and solve. Five times the difference between three times a number and four is ten. Find the number.
Help!!!!!!!!!!!!!!!!
Click here to see answer by Anglophile(11)

Question 21771: Property valued at $18,000 is assessed for 1/3 of its value. If the property tax $3 per $100 of assessed value per year, what is the yearly property tax bill?
Click here to see answer by wuwei96815(245)

Question 21691: Translate into an equation and solve. Five times the difference between three times a number and four is ten. Find the number.
I get the basic concept, how to do it. But I keep getting different answers, in other words every time I do it it comes out a little different.
Thank You!
Click here to see answer by queenofit(120)

Question 21923: If the total bill at a restaurant, including a 15% tip, is $65.32, what was the cost of the mean alone?

Click here to see answer by AnlytcPhil(1277)

Question 21922: A loan of $2500 was given to Shari for 1 year. If the interest charged for the period was $275, what was the interest rate on the loan?

Click here to see answer by queenofit(120)

Question 21936: The Jorgenson's budget 30% of their monthly income for food. If they spend $645 on food, what is their monthly income?
Click here to see answer by josmiceli(9680)

Question 21918: Jim invested $24,000, part at 8%, and the rest at 7.2%. How much did he invest at each rate if his income from the 8% investment is two thirds that of the 7.2% investment?
Click here to see answer by josmiceli(9680)

Question 21921: The Jorgenson's budget 30% of their monthly income for food. If they spend $645 on food, what is their monthly income?

Click here to see answer by elima(1433)

Question 21915: An orange grower has 400 crates of fruit ready to ship and will have 20 more for each day he waits. The current price is $60 per crate and will drop an estimated $2 per day for each day he waits. In how many days should he ship to maximize his income and what is his maximum income?
I tried to set up a equation like this: (400+20d)(60-2d)=i, but since it drops an estimated $2 a day, I'm don't think this is the right formula. Can you help? THANKS!
Click here to see answer by josmiceli(9680)

Question 22135: Find the accumulated value of an investment of $19,000 at 6% compounded annually for 12 years.
Click here to see answer by Paul(988)

Question 22343: A profit of $1oo represents what number?
Click here to see answer by Ultimatemagic(23)

Question 22735: Use formulas: S = P*(1+r/12^12t-1) / (r/12)
S stands for the accumulated savings when you invest P amount every month for t years at an interest rate r which is compounded monthly.
If you invest $250. in an account each month beginning when you are 30 years old, how much will you have at 55 when you plan to retire, if it is invested at 5% compounded monthly.
Click here to see answer by Paul(988)

Question 22972: Hi could I please have help with this:
A basketball team sells tickets that cost $10, $20, or, for VIP seats, $30. The team has sold 517 tickets overall. It has sold 216 more $20 tickets than $10 tickets. The total sales are $9690. How many tickets of each kind have been sold?
How many $10 tickets were sold?
How many $20 tickets were sold?
How many $30 tickets were sold?
thank you.
Click here to see answer by stanbon!(97)

Question 22983: A postal clerk sold 75 stamps for $19.95. Some were 20-cent and some were 33-cent. How many of each kind did he sell.
Click here to see answer by Paul(988)

Question 22983: A postal clerk sold 75 stamps for $19.95. Some were 20-cent and some were 33-cent. How many of each kind did he sell.
Click here to see answer by stanbon!(97)

Question 23114: Hello,
I tried to write the equation for this word problem, but the results did not seem correct. The problem is:
A leather goods manufacturer makes belts and purses. Both goods require preparing the pieces of leather and sewing them together. A belt requires 20 mins. of piece preparation and 12 mins. of sewing. A purse requires 40 mins. of piece preparation and 60 mins. of sewing. There are 26 pieces preparers and 30 sewers. The manufacturer makes a profit of $15 on each belt and $36 on each purse. Find the number of belts and the number of purses the company should make each hour to maximize profit.
Thank you for your time and help.
Julia
Click here to see answer by gr8stsing3raliv3(4)

Question 21514: a coins collection consists of 4, 2, and 3 cent coins. the number of 2 cent coin is one less than twice the number of 4 cent coins. the number 3 cent coins is five more than the number of 2 cent coins. the total value of all coins is $3.00 find the number of 2 cent coins in the collection.
Click here to see answer by venugopalramana(3286)

Question 22219: If $10,000 is invested part at 7% and part at 9%, and if the total return is $840, how much was invested at 7% ?
Click here to see answer by stanbon(57347)

Question 21812: okay, let's try this again;
a man invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. if his total interest for tht year was $800, how much did he invest in the mutual fund?
a) 5000
b) 4000
c) 6000
d) 3000
I messed up on the other submission with the answer choices...sorry.
Click here to see answer by rapaljer(4667)

Question 21311: Property valued at $18,000 is assessed for 1/3 of its value. If the property tax levy is $3 per $100 of assessed value per year, what is the year property tax bill?
Click here to see answer by stanbon(57347)

Question 23170: A retailer pays $120 for a stereo and sells it for $195. The
retailer's profit is what percent of the price he paid for the stereo?

Click here to see answer by stanbon(57347)

Question 22119: I cannot figure out how to go about solving this problem. A factory owner buys a new machine for $5000. After 10 years the machine has a value of $150. Find a formula for the value of the machine after t years for 0 is less than or equal to t and t is less than or equal to 10.
Click here to see answer by rapaljer(4667)

Question 23255: A leather goods maufacturer makes belts and purses. Both goods require preparing the pieces of leather and sewing them together. A belt requires 20 minutes of piece preparation and 12 minutes of sewing. A purse requires 40 minutes of piece preparation and 60 minutes of sewing There are 26 piece preparers and 30 sewers. The manufacturer makes a profit of $15 on each belt and $36 on each purse. Find the number of belts and the number of purses the company should make each hour to maximize profit.
Click here to see answer by venugopalramana(3286)

Question 21830: OK!! I WOULD LOVE IT IF U WOULD HELP ME WITH THIS PROBLEM BECUASE I AM SO CONFUSED ADN I DONT EVEN KNOW WHERE TO START! I HAVE TO WRITE AN ALGEBRAIC EQUATION FOR THIS PROBLEM! MS.SPEEDI KEEPS COINS FOR PAYING THE TOLL CROSSINGS ON HER COMMUTE TO AND FROM WORK.SHE PRESENTLY HAS THREE MORE DIMES THAN NICKELS ADN TWO FEWER QUATERS THEN NICKELS. THE TOTAL VALUE IF $5.40. FIND THE NUMBER OF EACH TYPE FO COIN SHE HAS!! IT WOULD BE A BIGH HELP IF I HAD HELP ON THIS THANK U
Click here to see answer by stanbon(57347)

Question 20905: Hi, I looked at like problems but did not see one for 3 types of coins...
A coin collecton contains 29 coins made up of pennies, nickles, and quarters. The number of quarters is 8 less than the number of pennies. Thr total face value of the coins is $1.77 How many of each denomination are there?
Click here to see answer by venugopalramana(3286)

Question 23432: warren has 40 coins all nickles, dimes, and quarters worth 4.05$. He has seven more nickles then dimes how many quarters.

Lori clames she has 20.00$ in quarters ,half dollars, and one dollar bills. She has twice as many quarters as half dollars and Half as many one dollar biils as Half dollars. Give an argument as to why this is wrong.
Click here to see answer by Paul(988)

Question 23501: in one hour a store sold 14 times as many tapes as records. the store sold 70 tapes. how many records did it sell?
Click here to see answer by elima(1433)

Question 23613: The perimiter of a retangle is 96. The length of the retangle is 6 less then twice the width. find the dimensions.
Click here to see answer by Paul(988)

Question 23613: The perimiter of a retangle is 96. The length of the retangle is 6 less then twice the width. find the dimensions.
Click here to see answer by stanbon(57347)

Question 23767: My daugher and her friend are having a challenge solving the followin:
Johnstown High School is selling candy to raise money. M&M's sell for $1.50 per box and Reese's sell for $2 per box. Sheri sold a total of 50 boxes of candy. She collected $95.
Let x represent the number of boxes of M&M's
Let y represent the number of boxes of Reese's
Solve the system to determine how many of each type of candy did she sell?
Click here to see answer by Paul(988)

Question 23945: i need help!!
Two teenagers, Simon and Joe take on weekend $85 and $70 respectively. During this break, Joe spends $5 more than Simon. At the end of the holiday Simon has twice as much money left as Joe. Calculate how much money each lad spent.
Click here to see answer by vikved(3)

Question 24299: The Emidios invested a sum of money at 6%. They invested $2000 more than this sum at 8%. If the total of the simple interest for one year is at most $650, what is the greatest possible amount the Emidios have invested at 6%?
Click here to see answer by josmiceli(9680)

Question 24683: A toy manufacturing company makes a doll that sells for $12. It costs $5 in labor to make eack doll. The total cost for the materials is $420. How many dolls must they sell to break even?
I have major problems with this one in particular. If you could please put this problem into a system that would be great. I do not need the answer. Thank you!
Click here to see answer by josmiceli(9680)

Question 24876: If the total bill at a restaurant, including a 15%tip, os $56.32, what was the cost of the meal alone?
Click here to see answer by Earlsdon(6287)

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