Word problems Flashcards
price per item = ?
total cost/# items
how to solve which salary should i choose problems?
equate two scenarios that are linked with a common variable to see at which conditions they are equal and the person would be indifferent
wage = ?
total amount paid/total amount of time worked
simple interest = ?
principlal * rate * time (ensure time and intereste rate are expressed over the same time periods - if time is less than one year ensure to discount by dividing by 12 -> if time is 8 months, then time would be 8/12)
compound interest formula
A = P(1+r/n)^nt, where:
A=future value of investment
P= principal
r=rate (expressed as decimal or fraction)
n=# of compounding periods annually
t=time in years
linear growth formula
final = initial + constant growth amt * # growth periods
exponential growth formula
initial*growth factor^(#growth periods)
what are the three components that go into a wet mixture problem matrix?
1) components of mixture
2) concentration of each component
3) quantity of each component
what are the three components that go into a dry mixture problem matrix?
Components
Units of the components
Quantity of the components
what formulas should be used when asked to solve problems involving different unit prices?
1) price per item = (total cost)/(# items)
2) # items = (total cost)/(price per item)
3) total cost = (# items)*(price per item)
if you are the 10th person from the front of a line and the 15th person from the end of the line, how many people are in line?
since you are 10th from the front, there are 9 people in front of you, and since you are the 15th from the back of the line, there are 14 people behind you. So, there are 9 + 1 (you) + 14 = 24 people
X% loss means what in terms of profit and cost?
Mean your profit is x% of the cost
