Question 1
- (a)
Without using mathematical tables or calculators, evaluate , leaving the answer in standard form (scientific notation).
- (b)
A principal of GH¢ 5,600.00 was deposited for 3 years at compound interest. If the interest earned was GH¢ 1,200.00, find, correct to 3 significant figures, the interest rate per annum.
Worked solution (try it first)
(a)
- Write each decimal as a whole number times a power of 10: .
- , and , so the value is .
(b)
- The amount after 3 years is .
- Compound interest: , so.
- Take the cube root: , so per annum (3 significant figures).