In this Section:
In this section, we will continue to learn about solving word problems. Here we will review some more challenging problems. We will review the six step method for solving a word problem with linear equations in one variable. Our first and most important step is to read the problem carefully. Then for our second step, we assign a variable to represent one of the unknowns, any additional unknowns are represented in terms of this variable. Third, we write an equation. Fourth, we solve the equation. Fifth, we write the solution in a nice, clear and concise sentence. For our sixth and final step, we check our answer to ensure that it makes sense in terms of our problem. We will review problems in which the sum of two or more items is known, but the individual amounts are not. This type of problem is known as “sums of quantities”. We will also review percent problems. These are problems that require us to calculate a price or value, before or after a certain “% “ markup or markdown. Additionally, we will look at simple interest problems. These problems require us to use the simple interest formula. This formula I=prt, is used to determine how much simple interest is earned, given the principal invested, the rate (as a decimal) and the time (generally given in years).