Sean wants to go on holiday. He is going to get a loan of £ 720 to help pay for the holiday. Sean will have to pay back the £ 720 plus interest of 15 %. He will pay this back in 12 equal monthly installments. How much money will Sean pay back each month?
Sean is lent £720. He has to pay back all of this, plus the extra 15% interest. So first you have to find 15% of £720:
10% is £72,
5% is £36,
therefore 15% is £72 + £36 = £108.
The total amount he has to pay back over 12 months is £720 + £108 = £828.
The amount he has to pay per month is £828/12 = £69
EL
Related Maths GCSE answers
All answers ▸10 The table gives information about the heights of 50 trees. Height (h metres) Frequency 0 < h - 4 ,8, 4 < h - 8 ,21, 8 < h - 12, 12, 12 < h - 16, 7, 16 < h - 20, 2. Work out an estimate for the mean height of the trees.
How do you factorise a quadratic equation
Fahima buys 2 packets of bread rolls costing £1.50 for each packet 1 bottle of ketchup costing £1.60 3 packets of sausages Fahima pays with a £10 note. She gets 30p change. Fahima works out that one packet of sausages costs £2.30 Is Fahima right?
Expand the following brackets: (2x + 1)(x + 3)