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Schach [20]
3 years ago
9

Jim borrows $14,000 for a period of 4 years at 6 % simple interest. Determine the interest due on the loan. [4 marks

Mathematics
1 answer:
tino4ka555 [31]3 years ago
7 0

Answer: $ 3,360

Step-by-step explanation:

Given : The principal amount borrowed for loan : P=\ \$14,000

Time period : t=4

Rate of interest : r=6\%=0.06

The formula to calculate the simple interest is given by :-

S.I.=P\times r\times t\\\\\Rightatrrow\ S.I.=14000\times4\times0.06\\\\\Rightatrrow\ S.I.=3360

Hence, the interest due on the loan = $ 3,360

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Solve the simultaneous equations
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The solution for given system of equations is: x = 6 and y = 3

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(6,3)

Step-by-step explanation:

Given equations are:

3x+4y=30\ \ \ Eqn\ 1\\3x-y=15\ \ \ \ Eqn\ 2

There are three methods to solve simultaneous equations

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We will use the elimination method as the coefficients of x in both equations are already same

Subtracting equation 2 from equation 1

3x+4y - (3x-y) = 30-15\\3x+4y-3x+y = 15\\5y = 15\\\frac{5y}{5} = \frac{15}{5}\\y = 3

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3x-3 = 15\\3x = 15+3\\3x = 18\\\frac{3x}{3} = \frac{18}{3}\\x =  6

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