Answer to Question #239003 in Financial Math for Tsunduka

Question #239003

How much must be paid back on a loan of R3000 for six months if simple interest of 12% per annum is charged

Expert's answer

$I=P×R×T\\=3000×\frac{12}{100}×\frac{6}{12}\\=180\\Amount=principal + interest\\=3000+180\\=3180$

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