Question

a man borrows money 800 for 2 years at a simple interest rate 20%. what is the total amount that must be repaid?

Answer 1

1120

A=p+I I = prt/100=800x20x2/100=320

A= P+I=800+320=1120

Answer 2

3200

Explanation:

Simple interest = [ (Principle x Rate x time) /100 ]

Substitute all values: (800 x 2 x 20)/100 = 3200

Hope this helps