Question

Ben Carson was loaned $125.00 to pay $6.00 interest for $100.00 every week ,after 3 weeks how much do he pay back to clear the dept A. $140 B. $147.50 C. $155 D. $135.50 E. 143​

Answer 1

Total amount pay after 3 week = $147.5

Explanation:

Given:

Amount of loan taken = $125

Amount interest per $100 = $6 per week

Find:

Total amount pay after 3 week

Computation:

Amount of interest per week = 125[6/100]

Amount of interest per week = $7.5 per week

Amount of interest in three week = 3 x Amount of interest per week

Amount of interest in three week = 3 x 7.5

Amount of interest in three week = $22.5

Total amount pay after 3 week = Amount of loan taken + Amount of interest in three week

Total amount pay after 3 week = 125 + 22.5

Total amount pay after 3 week = $147.5