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This question is an example of compound interest rates. The question asks to find the interest rate of the bank. So first of all we should form an equation relating our initial amount, interest rate, time...

X=2Y=1

This question is a simultaneous equation, this means we substitute one value into the other equation.We are looking for the points where the curves intersect.First I would take x+y=3 and bring the y over ...

We solve this by multiplying the starting value, £4500 , by 1 + {the interest rate expressed as a decimal} , or in this case, 1 + 0.013 . This gives us £4500 x 1.013⁶ and when we type this into...

So let's use 2x + 5y = 11 and 3x - 5y = 4 as our example.In these equations we have 2 unknown variables, x and y which we are trying to work out. The numbers in-front of the letters are the amount of time...