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\u00d7R\u00d7T\\\\=3000\u00d7\\frac{12}{100}\u00d7\\frac{6}{12}\\\\=180\\\\Amount=principal + interest\\\\=3000+180\\\\=3180"

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