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Annual rate of 5% charged simple interest they lend 3000 for 5 years how much interest will have to pay and what the total repayment amount be including interest
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1 vote
Annual rate of 5% charged simple interest they lend 3000 for 5 years how much interest will have to pay and what the total repayment amount be including interest

User KostasRim
by
4.2k points

1 Answer

3 votes

Explanation:

Interest will be:

= (3000 × 5 × 5)/100

= 75000/100

= 750

Total repayment = 3000 + 750 = 3750

User David Pugh
by
4.0k points
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