So. Bummed. Out.
Question:
Ang, Bakar and Chandran are friends and they have just graduated from a local university. Ang works in a company with a starting pay of RM2000 per month. Bakar is a sales executive whose income depends solely on the commission he receives. He earns a commission of RM1000 for the 1st month increases by RM100 for each subsequent month. On the other hand, Chandran decides to go into business. He opens a cafe and makes a profit of RM100 in the first month. For the first year, his profit in each subsequent month is 50% more than that of the previous month.
In the second year, Ang receives a 10% increment in his monthly pay. On the other hand, the commission received by Bakar is reduced by RM50 for each subsequent month. In addition, the profit made by Chandran is reduced by 10% for each subsequent month.
1. a) How much does each of them receive at the end of the 1st year?
(2 or more method are required for this ques.)
[max: besides progressions method, what can i use?? show me..]
b) What is the percentage change in their total income for the 2nd year compared to the 1st year? Comment on the answers.
c) Ang, Bakar and Chandran, each decided to open a fixed deposit account of RM10000 for 3years without any withdrawal.
- Ang keeps the amount at an interest rate of 2.5% per annum for a duration of 1month renewable at the end of each month.
- Bakar keeps the amount at an interest rate of 3% per annum for a duration of 3months renewable at the end of every 3months.
- Chandran keeps the amount at an interest rate of 3.5% per annum for a duration of 6months renewable at the end of every 6months.
(i) Find the total amount each of them will receive after 3years.
(ii) Compare & comment on the difference in the interests received. If you were to invest RM10000 for the same period of time, which fixed deposit account would you prefer? Give your reasons.
Further Exploration
2. a) When Chandran’s 1st child, Johan is born, Chandran invested RM300 for him at 8% compound interest per annum. He continues to invest RM300 on each of Johan’s birthday, up to and including his 18th birthday. What will be the total value of the investment on Johan’s 18th birthday?
b) If Chandran starts his investment with RM500 instead of RM300 at the same interest rate, calculate on which birthday will the total investment be more than RM25000 for the 1st time.
* Compound interest is interest earned during a period calculated on the basis of the original sum together with interest earned from the previous periods.
I wonder how the heck should I do this :/
Time to refer to teachers!
Ooh, and courtesy of an ex-SMKDP student, I think the answer is solved. :/
Linked here
But i’ll ask teachers for a safer approach, lol.
