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Juanita borrowed $600 to purchase a new computer. She was charged 7% interest for two years. She used the simple interest formula to find the interest.

I = 600(7)(2)

What error did Juanita make and how will her error affect the interest she calculates? Explain
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Respuesta :

sunnynguyen111

Answer:

The correct formula should be I= 600(0.07)(2). Juanita made a very common error, she didn't put the percentage of interest in decimal form; or she didn't put the percent sign on it so we know to put it in decimal form. Her error will make a big difference; with using her calculations the answer would be $8,400. With the correct formula the answer is $84.

Hope this help! :)

VirαtKσhli

Given :-

  • Juanita borrowed $600 .
  • Rate of Interest = 7% .
  • Time = 2yrs .

To find :-

  • Error made by her.

Answer :-

As we know that the formula for Simple interest is ,

  • SI = P*R*T / 100

Substitute ,

  • I $600* 7 * 2 / 100
  • I = $ 84 .

So here she did not write 7 % as 7/100 instead she wrote 7 .

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