A vendor borrowed 15000 from ther cooperative at 10% simple interest . If he paid the loan after one year . How much in all did he pay?
Answer (1)
Answer:16,500Step-by-step explanation:total amount = principal + ( principal rate x interest rate x time)given:principal(P)= 15,000interest rate(R)= 10% per yeartime(T)= 1total amount= 15,000 + (15,000 x 0.10 x1)total amount= 15,000 + 1,500total amount= 16,500
