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Math Help - Help with probability,compound interest

  1. #1
    Newbie
    Joined
    Oct 2006
    Posts
    12

    Help with probability,compound interest

    Hello does anyone understand how to work out these questions? Please help.

    Q1. Two boxes contain coloured bricks.
    Box A contains 2 red bricks, 3 blue bricks and 1 yellow brick.
    Box B contains 3 red bricks, 2 yellow bricks and 1 green brick.
    Janet selects one brick from box A and one brick from box B.
    Calculate the probability that the two bricks will be of the same colour.

    Q2. A painting was valued at 600 on 1 January 2004.
    The value of the painting is predicted to increase at a rate of R% per annum.
    The predicted value, V, of the painting after n years is given by the formula
    V = 600 (1.055)^n
    Use your calculator to find the predicted value of the painting after 15 years.
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  2. #2
    Junior Member
    Joined
    May 2007
    Posts
    60
    Q1. So the only combinations that have the same colour are:
    Red and Red, Yellow and Yellow (since blue and green only appear in one of the boxes)

    red in box A = 2/6
    red in box B = 3/6
    probability of getting this is 2/6 x 3/6 = 6/36

    yellow in box A = 1/6
    yellow in box B = 2/6
    probability of getting this is 1/6 x 2/6 = 2/36

    Add these probabilities together:
    6/36 + 2/36 = 8/36 = 4/18 = 2/9
    and there's your answer!

    Q2. You have already been given the answer! It's just simple substitution. If
    V = 600 (1.055)^n
    where n is the number of years and they are asking for its value in 15 years...
    C'mon you can do this
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