Answer:
a) The simple interest is $126.
b) The total money repaid after 3 years is $1526.
Step-by-step explanation:
A man borrowed money at a bank $1400 at the rate o 3% for 3 years.
a) Find the simple interest
[tex]\longrightarrow{\sf{\red{S.I = \dfrac{PRT}{100}}}}[/tex]
- → S.I = Simple Interest
- → P = Principal
- → R = Rate
- → T = Time
Substituting all the given values in the formula to find the Simple Interest :
[tex]\longrightarrow{\sf{S.I = \dfrac{PRT}{100}}}[/tex]
[tex]\longrightarrow{\sf{S.I = \dfrac{P \times R \times T}{100}}}[/tex]
[tex]\longrightarrow{\sf{S.I = \dfrac{1400 \times 3 \times 3}{100}}}[/tex]
[tex]\longrightarrow{\sf{S.I = \dfrac{14 \cancel{00}\times 3 \times 3}{1 \cancel{00}}}}[/tex]
[tex]\longrightarrow{\sf{S.I = 14 \times 3 \times 3}}[/tex]
[tex]\longrightarrow{\sf{S.I = 42 \times 3}}[/tex]
[tex]\longrightarrow{\sf{S.I = 126}}[/tex]
[tex]\star{\underline{\boxed{\pmb{\sf{S.I = \$126}}}}}[/tex]
Hence, the simple interest is $126.
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b) Find the total money repaid after 3 years
[tex]\dashrightarrow{\sf{\pink{A = P + S.I }}}[/tex]
- → A = Amount
- → P = Principal
- → S.I = Simple Interest
Substituting all the given values in the formula to find the Amount :
[tex]\dashrightarrow{\sf{A = P + S.I }}[/tex]
[tex]\dashrightarrow{\sf{A = 1400 + 126 }}[/tex]
[tex]\dashrightarrow{\sf{A = 1526}}[/tex]
[tex]\star{\underline{\boxed{\pmb{\sf{A = \$1526}}}}}[/tex]
Hence, the total money repaid after 3 years is $1526.
[tex]\rule{300}{2.5}[/tex]
