Middle School

Tong loaned Jody $50 for a month. He charged 5% simple interest for the month. How much did Jody have to pay Tong?

Answer :

The 5% of $50 is $2.50 thus Jodi has to pay Tong $52.5 with the given interest rate.

What is the percentage?

The percentage is defined as a given amount in every hundred. It is a fraction with 100 as the denominator percentage is represented by the one symbol %.

The percentage is also called the indicating hundredths. Thus, 2% is two-hundredth, which means 2%=2/100=0.02.

As per the given,

Tong loaned Jody $50 for a month he charges 5% simple interest for the month.

5% of $50 will be,

(5/100)50 = $2.50

Total amount = $50 + $2.50 = $52.50

Hence "The 5% of $50 is $2.50 thus Jodi has to pay Tong $52.5 with the given interest rate".

For more about the percentage,

brainly.com/question/13450942

#SPJ2

2.50$ is the correct answer.