Respuesta :
Solution:
The simple interest charged on an amount borrowed at a given rate for a given period of time is expressed as
[tex]\begin{gathered} I=P\times R\times T \\ where \\ P\Rightarrow amount\text{ borroewd} \\ R\Rightarrow interest\text{ rate, expressed in percentage } \\ T\Rightarrow time\text{ in years} \end{gathered}[/tex]A) Interest charged:
Given that
[tex]\begin{gathered} P=3000 \\ R=5\%=\frac{5}{100} \\ T=8\text{ months=}\frac{8}{12}\text{ year} \end{gathered}[/tex]Thus, the interest charged is evaluated as
[tex]\begin{gathered} I=3000\times\frac{5}{100}\times\frac{8}{12} \\ =\$100 \end{gathered}[/tex]Hence, the interest charged is $100.
B) Amount to be paid back:
The amount to She will pay back is the sum of the amount borrowed and the interest charged.
Thus,
[tex]\begin{gathered} Amount\text{ =Principal + Interest charged} \\ =3000+100 \\ \Rightarrow Amount\text{ to be paid = \$3100} \end{gathered}[/tex]Hence, the amount she will pay back is
[tex]\$3100[/tex]