Section: Arithmetic Reasoning
15)
Grace takes out a $3,000 home insurance policy at a yearly rate of $34.65 for every $1,000. What is the yearly premium?
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Explanation
$3,000/$1,000 = 3. Therefore the yearly amount is:
3 x $34.65 = $103.95
Another method of solving this problem would be:
$3,000/x = $1000/$34.65
$1000x = $103.95
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