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) About Me  (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