The simple interest on a certain sum borrowed by Jain for 3 years at a rate of 14% per annum is $210. Find the amount in $ Jain has to repay after 3 years.

Question

anonymous · Answer

if 210 is just the interest you have to pay after 3 years then 
$$x*0.14^{3}=210$$
so x = 76530.61
hence total repayment is   76530.61+210

anonymous · Answer

Uh

mertsj · Answer

I=Prt
$$210=P(.14)(3)$$
$$\frac{210}{(.14)(3)}=P$$
$$P=$500$$

mertsj · Answer

So we see that she borrowed a Principal amount of $500.
If she borrowed $500 and had to pay $210 in interest then she has to pay back the amount she borrowed plus the interest which is 500+210 or $720

anonymous · Answer

O so its not compound interest

mertsj · Answer

@LoneDrifter Does it seem right to you that you could borrow $75000 for 3 years at 14 % interest and only have to $210 in interest?

mertsj · Answer

And no.  When the problem says simple interest, it is NOT compound interest.

anonymous · Answer

the unswer is 710As the calculated answer is not equal to the other options only Let the sum borrowed by Jain be = $P

Amount Jain has to repay at the end of 3 years = P+I
= $500+$210=$710