Question

Help me and this problem

Answer 1

Given,

The principal amount is $700.

The rate of interest is 5%.

The time period is 2 year.

The expression for simple interest is,

`\text{Simple interest =}(P* R* T)/(100)`

Here,

P=principal

T=time

R =rate

Substituting the value then,

`\begin{gathered} \text{Simple interest=}(700*5*2)/(100) \\ \text{Simple interest=}(7000)/(100) \\ \text{Simple interest=}70 \end{gathered}`

The total amount after two year is,

`\begin{gathered} \text{Amount}=\text{principal }+\text{simple interest} \\ \text{Amount}=700+60=760 \end{gathered}`

Hence, the amount she owe after 2 years is $760.