Question

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Answer 1

Answer:

Step-by-step explanation:

The principal amount is

P=3000.

The time for which money is borrowed is ,

$t=9 months$

The interest rate is ,

$R=3\frac{1}{2}$

Determine the time in terms of year by division of time by 12.

$t=\frac{9}{12} years\\= \frac{3}{4} years$

The formula for the interest is ,

$I=\frac{P.r.t}{100}$

Substitute the known calues in the formula to obtain the value of interest.

$I=\frac{3000.\frac{3}{4} .3\frac{1}{2} }{100} \\=\frac{3000.3.7}{2.4.100} \\=78.75$

So interest paid by the woman is $78.75

(b)

Determine the amount paid by the woman .

$A=P+I\\=3000+78.75\\=3078.75$

So woman repay $3078.75 to the bank.

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