Question 1189962: Mrs. Dimawala loaned P15,000 on February 16, 2006 and promised to pay after 200 days with interest at 15% simple interest. How much will Mrs. Dimawala pay on the due date? When is the due date ?
Found 2 solutions by ikleyn, mananth:
Answer by ikleyn(52879)   (Show Source):
You can put this solution on YOUR website! .
Mrs. Dimawala loaned P15,000 on February 16, 2006 and promised to pay
after 200 days with interest at 15% simple interest.
How much will Mrs. Dimawala pay on the due date? When is the due date ?
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Use the simple interest formula
A = P(1+r*t),
where P is the loaned amount, r is the simple interest rate as decimal, t is the time in years,
A is the amount to pay back.
In your problem, P = 15,000; r = 0.15; t =  = 0.547945205 of an year.
Therefore, the answer is A = 15000*(1+0.15*0.547945205) = P 16,232.88.
Solved.
Answer by mananth(16946)  (Show Source):
You can put this solution on YOUR website!
P15,000 @ 15% simple interest for 200 days
September 4th. 2006 200 days
Simple interest = P * t * r
SI = 15000 * (200/365) *0.15
= P 1232.87
Add it to principal 15000
15000+1232.87
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