1. **Problem (a):** Find the rates for a quarter for a house with an assessed annual value of 65000 and an annual rates percentage of 8%.
Step 1: Calculate the annual rates.
$$\text{Annual rates} = 65000 \times \frac{8}{100} = 65000 \times 0.08 = 5200$$
Step 2: Calculate the rates for a quarter (3 months).
$$\text{Quarterly rates} = \frac{5200}{4} = 1300$$
2. **Problem (b)(i):** Find the amount the owner deposited in the bank if the monthly rent is 12000 and the advance is for a year.
Step 1: Calculate the total advance for 12 months.
$$\text{Amount deposited} = 12000 \times 12 = 144000$$
3. **Problem (b)(ii):** From the interest received at the end of the year, the owner paid the annual rates (5200) and remained with 12080. Find the annual simple interest rate.
Step 1: Let the interest rate be $r$% per annum.
Step 2: The total interest received is the amount deposited multiplied by the interest rate.
Step 3: The interest after paying the rates is 12080, so:
$$\text{Interest} - 5200 = 12080 \implies \text{Interest} = 12080 + 5200 = 17280$$
Step 4: Use the simple interest formula:
$$\text{Interest} = \text{Principal} \times \frac{r}{100} \times 1$$
$$17280 = 144000 \times \frac{r}{100}$$
Step 5: Solve for $r$:
$$r = \frac{17280 \times 100}{144000} = 12$$
**Final answers:**
(a) Quarterly rates = 1300
(b)(i) Amount deposited = 144000
(b)(ii) Annual simple interest rate = 12%
House Rates Interest
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