Question

A motorcycle cost R30500 cash. You do not have amount and decide to borrow the money from the bank with 15% interest per 24 months, how much money will you pay back after 2 years

Answer 1

Step-by-step explanation:

• Simple Interest = PRT/100
• P = ₹30,500
• R = 15% per 24 months
• T = 2years = 24 Months
• Simple Interest = (30,500 × 15 × 1) ÷ 100
• = 305 × 15 = ₹4,575
• Total Amount = P + SI
• = ₹30,500 + ₹4,575
• = ₹35,075

Answer 2

Answer:$39,650

Step-by-step explanation:

Formula: I=Pxrxt

I-interst, P-principal, r-rate, t-time

I-unknown, P-30,500, r-0.15 pr 15%, t-2 yrs

I=30500x0.15x2=9,150

Add principal of 30500 to 9150 of interest= $39,650 you pay over 2 years.

I hope this helps you.