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If Andrew got a loan of K7000, and he was charged 20% for 2 year repayment, how much will he pay altogether?
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2 stepsIt looks like Questions 18 and 19 are missing some context or information from a previous part of the problem, so I can't solve them. However, I can help you with Question 20!
Question 20:
If Andrew got a loan of K7000, and he was charged 20% for 2 year repayment, how much will he pay altogether?
Calculate the simple interest charged on the loan.
The formula for simple interest is , where is the principal amount, is the annual interest rate, and is the time in years.
The total interest charged is K2800.
Calculate the total amount Andrew will pay altogether.
The total amount is the principal amount plus the interest.
Andrew will pay K9800 altogether.
The correct option is D.
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