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Welcome to our Math lesson on Applications of Rates in Practice, this is the fourth lesson of our suite of math lessons covering the topic of Rates. Applications of Ratios and Rates in Practice, you can find links to the other lessons within this tutorial and access additional Math learning resources below this lesson.
There are numerous applications of rate in practice. Here, we will briefly discuss some of them.
Interest rates are a very fundamental term in banking, where the banks offer extra money to people who deposit their capitals, based on the annual interest rates. These rates are usually expressed as a percentage, which is another form of rational numbers expression, as a percentage is nothing more than a fraction with a denominator of 100.
For example, if a bank offers annual interest rates of 3%, this means the amount of money deposited by a customer increases by 3% or by 3/100. Therefore, if a customer deposits $50,000 in this bank, he earns
after one year. Thus, after one year, the total in the bank is $50,000 + $1,500 = $51,500.
Earlier we explained some of the quantities that involve rates (especially rates of change) in physics. Some other quantities that are obtained as rates of something changing in physics include:
Rate of energy change, which represents the power delivered by a source of energy in a given time, i.e.
Rate of electric flux change in a coil, which represents the electromotive force induced in the coil during a given time, i.e.
Rate of momentum change, which represents the force acting on an object, i.e.
where Δp is the change in momentum of the object, and so on.
Heart rate is an important parameter of humans' health. A healthy person has a heart rate of 70 - 80 beats per minute.
The Annual Incidence Rate of an acute disease is calculated by the number of new cases of that disease during a particular year / the estimated or counted average population at risk, observed within that year. For example, if 50,000 new cases of an acute disease are detected during one year in a country where 10 million people are at risk of being affected by it, the Annual Incidence Rate for this disease is 50,000 / 10,000,000 = 0,005.
The Point Prevalence Rate of a condition is the number of cases of that condition at a particular point in time / population at risk at that point in time,
and so on.
Rates are very common in civil engineering, when they are used to express specific quantities of materials that are to be mixed with another material to form stronger or more flexible structures. For example, the cement humidity rate in concrete must be at certain values to avoid cracks, etc.
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