Maria borrowed $ 1400 from a bank at the rate of 6% (p.a.) for 8 years – InterviewSolution

1.	Maria borrowed $ 1400 from a bank at the rate of 6% (p.a.) for 8 years. Find the amount she paid back to the bank at the end of 8 years.
Answer» -step EXPLANATION:PRINCIPLE = $1400time = 8.5 yearsrate of interest = 6%SIMPLE Interest = P×T×R ÷ 100= 1400×8.5×6 ÷ 100= 714Amount = Principle + Simple Interest= 1400+714= 2114therefore, MARIA will return ₹2114 .

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