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Aaron has a loan of 1250£ He pays simple intrest 0.5% per month for eight months Calculate the total amount of interest Aaron pays​

Aaron has a loan of 1250£ He pays simple intrest 0.5% per month for eight months Calculate the total amount of interest Aaron pays​
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Aaron has a loan of 1250£ He pays simple intrest 0.5% per month for eight months Calculate the total amount of interest Aaron pays​

User Rickyduck
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1 Answer

7 votes
Answer: 50 Pounds

Explanation: First we need to find out how much 0.5% of 1250 is. 0.5% of 1250 is 6.25£. Since that’s per month, and Aaron pays interest for 8 months, we multiply by 8. So 6.25 times 8 is 50.
User Clavin Fernandes
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