Tom borrowed 600 $a t$ 10\% $p e r y e a r, s i m p l e i n t e r e s t, f o r$ 3 $y e a r s . H o w m u c h d i d h e h a v e t o r e p a y (p r i n c i p a l$ + $i n t e r e s t) a t t h e e n d o f t h e$ 3$ year period?

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Solution

Given, Principal amount $= P =$ 600 $R a t e$ = 10 \% $P e r i o d$ = 3 $y e a r s$ A = \dfrac{(P\times{R}\times{T})}{100}= \dfrac{(600 \times{10}\times{3})}{100} = $180$
Total amount to repay $=$ Principal $+$ interest
$=$ $600 + 180$
$=$ 780$

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Tom borrowed 600at10\%peryear,simpleinterest,for3years.Howmuchdidhehavetorepay(principal+interest)attheendofthe3$ year period?

Given, Principal amount =P= 600 Rate= 10 \%Period= 3 years A = \dfrac{(P\times{R}\times{T})}{100}= \dfrac{(600 \times{10}\times{3})}{100} = 180Total amount to repay = Principal + interest = 600+180 = 780$

Tom borrowed 600 $a t$ 10\% $p e r y e a r, s i m p l e i n t e r e s t, f o r$ 3 $y e a r s . H o w m u c h d i d h e h a v e t o r e p a y (p r i n c i p a l$ + $i n t e r e s t) a t t h e e n d o f t h e$ 3$ year period?

Given, Principal amount $= P =$ 600 $R a t e$ = 10 \% $P e r i o d$ = 3 $y e a r s$ A = \dfrac{(P\times{R}\times{T})}{100}= \dfrac{(600 \times{10}\times{3})}{100} = $180$
Total amount to repay $=$ Principal $+$ interest
$=$ $600 + 180$
$=$ 780$