Question

Ari borrowed $2000 and paid it back over 3 years. The simple interest rate was 2% annually. How much interest did ari pay over the three years

Answer 1

If the interst rate is 2% per year and she paid it back after 3 years , it means she paid an extra 6% of $2000 just in interests.

Now we just need to find how much 6% is and add to 2000.

to discover the value of 6% of 2000 we can divide it by 100 ( to find 1%) and then multiply it by 6 ( to find 6%) :

2000 ÷ 100 = 20
1% = 20
6% = 20 × 6
6% = 120

Now add 120 to 2000 to find out how much she paid in total:
2000 + 120 = 2120

Awnser : She paid the total of $2120 over 3 years

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