This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Step 1: Calculate the simple interest. The formula for simple interest is I = P × R × T, where P is the principal amount, R is the annual interest rate, and T is the time in years. I = R15\,000 × 0.05 × 2 I = R1\,500 Step 2: Calculate the total amount to be paid back. The total amount to be paid back is the principal amount plus the simple interest. A = P + I A = R15\,000 + R1\,500 A = R16\,500 The total amount to be paid back is R16\,500. Send me the next one 📸