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Donna borrowed $10, 500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether?

2 Answers

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Explanation:

We know that Interest = Principal×Rate×Time/100

So,

10,500×4×3/100

= 10,500×3/25 (by cancelling 100 by 4)

=31500/25

= 1260

Therefore,

$1260 Answer

hope it helps.....

User Onca
by
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4 votes

Question:-

Donna borrowed $10,500 at a simple interest rate of 4% for 3 years to buy her new car. How much interest would Donna pay and how much is the car altogether ?

Answer:-

Given:-


\bullet Principal (P) = $10,500


\bullet Rate of interest (r) = 4%


\bullet Time (t) = 3 years

To Find:-

Interest of Donna and amount of car altogether.

Solution:-

We know,


{ \boxed{\rm \red {I \: = (Prt)/(100)}}}


\therefore I =
(10,500 \: × \: 4 \: × \: 3)/(100)

I =
(126,000)/(100)

I = $1260

Now,

Amount of the car = $ (10,500 + 1260)

= $ 11,760

$1260 interest would Donna pay and $11,760 is the car altogether. [Answer]

User Tgmerritt
by
7.4k points

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