SOLUTION: rizwan borrowed rs 4500 for three years with simple interest at 7.5 per annum. How much did he repay?
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Question 1100506: rizwan borrowed rs 4500 for three years with simple interest at 7.5 per annum. How much did he repay?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
he borrowed 4500 for 3 years at 7.5% interest.
simple interest formula is i = p * r * n
r is the interest rate per time period.
n is the number of time periods.
formula becomes i = 4500 * .075 * 3
result becomes i = 1012.5
rizwan needs to pay 4500 + 1012.5 = 5512.5
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