If BD 7,500 is loaded by Jassim which he intends to pay after 7 months and 15 days at a simple interest of 12%, determine the ordinary simple interest and the total amount of the loan upon its maturity

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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If BD 7,500 is loaded by Jassim which he intends to pay after 7 months and 15 days at a simple interest of 12%, determine the ordinary simple interest and the total amount of the loan upon its maturity

 
 
 
 
 
Expert Solution
Step 1

Given:

Amount=BD 7500

Time period=7 months 15 days

Simple interest=12%

To find: Ordinary simple interest and the total amount of the loan upon its maturity

 
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