Question

Petra borrows $200 for 1 year with a simple interest rate

of 4.5%. Complete the equation that represents the total
amount that Petra has to pay after 1 year.
Amount Borrowed + Amount of Interest = Total to Pay Back
+
L
x
) =​

Answer 1

The total amount petra has to pay after 1 year is $ 209

The equation used is: Total amount to pay back = Amount Borrowed + Amount of Interest

Solution:

Given that,

Petra borrowed $ 200 for 1 year with simple interest rate 4.5 %

We are asked to find the amount that petra has to pay back after 1 year

Total to Pay Back = Amount Borrowed + Amount of Interest

Let us first calculate the amount of interest Petra has to pay for 1 year

Given that simple interest rate = 4.5%

The simple interest is given as:

`\text { simple interest }=\frac{\text { principal } * \text {rate} \text { of interest } * \text { number of years }}{100}`

`\text { simple interest }=(200 * 4.5 * 1)/(100)=2 * 4.5=9`

Thus the amount of interest = $ 9

Total to Pay Back = Amount Borrowed + Amount of Interest

Total to Pay Back = 200 + 9 = 209

Thus the total amount petra has to pay after 1 year is $ 209