kellyKim22
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Jimmy takes a loan of 10,000$ at 12% per year as rate of interest . Find the amount, he will be required to pay after 1 year to settle the loan .

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Respuesta :

Answer:

1200 I THINK

Step-by-step explanation:

RubySun

Answer :-

  • 11200

Step by step explanation :-

Here,

  • Principal = 10,000
  • Time = 1 year
  • rate = 12 %

The intrest payable on 100$ for 1 year = 12 $

The interest payable on 10,000$ borrowed for 1 year

  • [tex]( \frac{12}{100} \times 10000)[/tex]
  • [tex]1200[/tex]

so, at the eand of the year , he has to give an amount of $ ( 10,000 + 1200 )

  • 11200 $