Help! Urgent help!

• blueeyeswhitedragon

  9 Oct 06, 20:43

  Hey! Nid a Help for a maths question! Sec. 2 maths. thx lots! 2molo maths exam! Now practising!
  
  Mr Wealth invested S$150 000 in Malaysia at 6% per annum simple interest when the exchange rate was S$1= RM2.25. After 5 1/2 years, he withdrew the interest gained from his investment. The exchange rate then was S$1=RM 2.06. Calculate the amount in Singapore dollars, correct to the nearest cent, that he would receive.
  
  Thx again in advance!
• alexkusu

  9 Oct 06, 20:43

  $17,356.27
• browniebaobao

  9 Oct 06, 20:44

  dinoe nowadays sec sch maths question got calculate exchange rate de leh.
• Ben_Ng69

  9 Oct 06, 20:48

  i hate math...
• shinta

  9 Oct 06, 20:48

  Originally posted by browniebaobao:

  dinoe nowadays sec sch maths question got calculate exchange rate de leh.

  hmm? last time got liao le..
• OasisBlue

  9 Oct 06, 20:49

  lo lsec 2 here as well but we din learn that. we learn it in sec 1 i think.
• Gackt247

  9 Oct 06, 20:52

  Anyone wants tuition.. my rates good..
• browniebaobao

  9 Oct 06, 20:52

  [quote]Originally posted by shinta:
  hmm? last time got liao le..[/quote0]
  
  i dun remember sec sch have leh..
  
  i only remember calculating exchange rate in ITE.
• shinta

  9 Oct 06, 20:53

  Originally posted by blueeyeswhitedragon:

  Hey! Nid a Help for a maths question! Sec. 2 maths. thx lots! 2molo maths exam! Now practising!
  
  Mr Wealth invested S$150 000 in Malaysia at 6% per annum simple interest when the exchange rate was S$1= RM2.25. After 5 1/2 years, he withdrew the interest gained from his investment. The exchange rate then was S$1=RM 2.06. Calculate the amount in Singapore dollars, correct to the nearest cent, that he would receive.
  
  Thx again in advance!

  SGD150k = RM 337.5k
  
  interest for 1 year = RM 20.25k
  interest for 5.5 years = RM 111.375k = SGD 54,065.53
• shinta

  9 Oct 06, 20:54

  Originally posted by browniebaobao:
  [quote]Originally posted by shinta:
  [b]hmm? last time got liao le..[/quote0]
  
  i dun remember sec sch have leh..
  
  i only remember calculating exchange rate in ITE. [/b]

  hmm
  
  i rmb doin it in sec sch... =\
  
  den i always miss a step or sth or confused it with some other stuff den i failed that qn
  
  
• toyota-corolla

  9 Oct 06, 20:56

  Originally posted by Ben_Ng69:

  i hate math...

  i hate maths!
• blueeyeswhitedragon

  9 Oct 06, 20:59

  er...............my answer sheet answer is S$54065.53 (nearest cent)
  
  Is the answer wrong?
• shinta

  9 Oct 06, 21:01

  Originally posted by blueeyeswhitedragon:

  er...............my answer sheet answer is S$54065.53 (nearest cent)
  
  Is the answer wrong?

  yay! i got it correct!
• ndmmxiaomayi

  9 Oct 06, 21:01

  Originally posted by blueeyeswhitedragon:

  Hey! Nid a Help for a maths question! Sec. 2 maths. thx lots! 2molo maths exam! Now practising!
  
  Mr Wealth invested S$150 000 in Malaysia at 6% per annum simple interest when the exchange rate was S$1= RM2.25. After 5 1/2 years, he withdrew the interest gained from his investment. The exchange rate then was S$1=RM 2.06. Calculate the amount in Singapore dollars, correct to the nearest cent, that he would receive.
  
  Thx again in advance!

  S$1 = RM2.25
  S$150 000 = 2.25/1 X 150 000 = RM337 500
  
  SI = PRT/100 = 337 500 X 6 X 5.5/100 = RM111 375
  
  RM111 375 + RM 337 500 = RM448 875
  
  RM2.06 = S$1
  RM448 875 = 1/2.06 X 448 875 = S$217 900.49
  
  Not sure if correct or not, long time since I touch it.
• alexkusu

  9 Oct 06, 21:01

  Originally posted by shinta:

  yay! i got it correct!

  yeah! me too
• shinta

  9 Oct 06, 21:02

  Originally posted by alexkusu:

  $17,356.27

  ur answer is this leh
  
  
• blueeyeswhitedragon

  9 Oct 06, 21:05

  Who got it correct? can put out the steps!??!
  
  In rush now!
  PLZ HELP!
  
  I now ling shi bao for jiao
• alexkusu

  9 Oct 06, 21:06

  Originally posted by shinta:

  ur answer is this leh
  
  

  u ddnt read fine line ah...
  
  plus or minus 40k
• ndmmxiaomayi

  9 Oct 06, 21:06

  Originally posted by blueeyeswhitedragon:

  er...............my answer sheet answer is S$54065.53 (nearest cent)
  
  Is the answer wrong?

  Me wrong... expected...
• ctstalin

  9 Oct 06, 21:06

  Originally posted by blueeyeswhitedragon:

  Hey! Nid a Help for a maths question! Sec. 2 maths. thx lots! 2molo maths exam! Now practising!
  
  Mr Wealth invested S$150 000 in Malaysia at 6% per annum simple interest when the exchange rate was S$1= RM2.25. After 5 1/2 years, he withdrew the interest gained from his investment. The exchange rate then was S$1=RM 2.06. Calculate the amount in Singapore dollars, correct to the nearest cent, that he would receive.
  
  Thx again in advance!

  S$150 000 = RM 337 500
  Interest earned in 5.5 years = 337 500 x 5.5 x 0.06 = RM 111 375 = S$54065.53
  
  That is assuming that every month also got add interest (0.06/12)%, no year on year add de
  
  
• ndmmxiaomayi

  9 Oct 06, 21:08

  Originally posted by ctstalin:

  S$150 000 = RM 337 500
  Interest earned in 5.5 years = 337 500 x 5.5 x 0.06 = RM 111 375 = S$54065.53
  
  That is assuming that every month also got add interest (0.06/12)%, no year on year add de
  
  

  Question says simple interest liao, not compound interest.
• blueeyeswhitedragon

  9 Oct 06, 21:11

  ok! Thx LOL! Jus found out where i go wrong
  
  Interest= PRT/100 the rate i put 6! no wonder!
  Is 0.06 haha! thx!
• ctstalin

  9 Oct 06, 21:12

  Originally posted by ndmmxiaomayi:

  Question says simple interest liao, not compound interest.

  correct me if my concept is wrong
  
  i always thought that simple interest is calculated from the initial investment, regardless of the time u invested (interest earned remains the same)
  
  then compound interest is calculated from the accumulated amount after a period of time (interest earned increases with time)
  
  
• blueeyeswhitedragon

  9 Oct 06, 21:24

  hey! I=PRT/100 no nid 100? how come i gt put 100 different with all r workings by 100 place...............
• ndmmxiaomayi

  9 Oct 06, 21:29

  Originally posted by ctstalin:

  correct me if my concept is wrong
  
  i always thought that simple interest is calculated from the initial investment, regardless of the time u invested (interest earned remains the same)
  
  then compound interest is calculated from the accumulated amount after a period of time (interest earned increases with time)
  
  

  Yup.