Question

Mateo decide pedir un préstamo de 600 soles durante 2 años a un banco el cual le ofrece una tasa de interés anual de 16%calcula al interés simple y el monto total que pagará al término de 2 años

Answer 1

192 and 792

Explanation:

Given that

The principal is 600 soles

The Time period is 2 years

The Rate of interest is 16%

We need to find out the simple interest and the total amount paid at the end of 2 years

As we know that

SImple interest is

= Principal × rate of interest × time period

= 600 × 16% × 2

= 192

And, the amount is

= Principal + interest

= 600 + 192

= 792