Question

Rick borrowed $50 from his sister for three months (1/4 year). she charged him 14% interest. How much does Rick have to pay to her sister?

Answer 1

Hello, there today we will be solving your problem

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• 
  `$57`
  `dollars`

`\huge\blue{\mid{\fbox{\tt{Explanation}}\mid}}`

Definitions

Percentage - Percentages are essentially fractions where the denominator is 100. To show that a number is a percent, we use the percent symbol (%) beside the number.

Cross Multiplication - In mathematics, specifically in elementary arithmetic and elementary algebra, given an equation between two fractions or rational expressions, one can cross-multiply to simplify the equation or determine the value of a variable.

Division - Division, otherwise known as the inverse of multiplication separates a certain number into what it has been divided by.

Addition - Addition is one of the four basic operations of arithmetic, the other three being subtraction, multiplication and division. The addition of two whole numbers results in the total amount or sum of those values combined.

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Question -

Rick borrowed $50 from his sister for three months (1/4 year). she charged him 14% interest. How much does Rick have to pay her sister?

Now we may solve

First, we set up our equation ⇒
`(14)/(100)=(x)/(50)`

Second, we do Cross Multiplication ⇒
`100x=700`

Third, we divide both sides by
`100` ⇒
`x=7`

Fourth, we add the
`7` dollars to the original
`50` ⇒
`50+7=57`

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• The answer is
  `57` dollars