2000naira for 3weeks at 1naira on each 10naira interest per week.
If you borrow 2000 naira for 3 weeks at a weekly interest rate of 10%, you will owe a total of:
Week 1: 2000 naira + (10% * 2000 naira) = 2200 naira
Week 2: 2200 naira + (10% * 2200 naira) = 2420 naira
Week 3: 2420 naira + (10% * 2420 naira) = 2662 naira
Therefore, you will owe a total of 2662 naira after 3 weeks.
To calculate the total interest earned over 3 weeks at a rate of 1 naira on each 10 naira, we can follow these steps:
1. Calculate the total amount of money deposited:
The amount deposited each week is 2000 naira, and the duration is 3 weeks. So, the total amount deposited is 2000 naira x 3 weeks = 6000 naira.
2. Determine the amount of interest earned per week:
The interest rate is 1 naira on each 10 naira, which is equivalent to 10%. So, the interest earned per week is 10% of 2000 naira, which is 0.10 x 2000 naira = 200 naira.
3. Calculate the total interest earned over 3 weeks:
The total interest earned is the interest earned per week multiplied by the number of weeks. So, the total interest earned over 3 weeks is 200 naira/week x 3 weeks = 600 naira.
Therefore, the total interest earned over 3 weeks at a rate of 1 naira on each 10 naira is 600 naira.