Bayo borrowed 2000 naira from his friend. He agreed to pay it back after 2 years together with an interest of 2½% per 1 year. How much should he pay back to his friend?
The interest per year is 2½% of 2000 naira which is equal to (2½/100)*2000 = <<(2.5/100)*2000=50>>50 naira.
The interest for 2 years is 50*2 = <<50*2=100>>100 naira.
Therefore, Bayo should pay back 2000+100 = <<2000+100=2100>>2100 naira. Answer: \boxed{2100}.
To determine how much Bayo should pay back to his friend, we need to calculate the interest on the borrowed amount for 2 years.
Step 1: Calculate the interest for one year:
2½% of 2000 naira can be calculated by multiplying 2000 by 2.5/100:
Interest for one year = 2000 * (2.5/100) = 50 naira
Step 2: Calculate the interest for two years by multiplying the interest for one year by 2:
Interest for two years = 50 * 2 = 100 naira
Step 3: Add the interest to the borrowed amount to determine the total repayment:
Total repayment = Borrowed amount + Interest = 2000 + 100 = 2100 naira
Therefore, Bayo should pay back 2100 naira to his friend.
To calculate the amount Bayo should pay back to his friend, we need to calculate the interest first.
Step 1: Calculate the interest:
Interest = 2½% of 2000 naira
Interest = (2½/100) x 2000
Interest = (2.5/100) x 2000
Interest = 0.025 x 2000
Interest = 50 naira
Step 2: Add the interest to the borrowed amount to find the total amount to be paid back:
Total amount = Borrowed amount + Interest
Total amount = 2000 + 50
Total amount = 2050 naira
Therefore, Bayo should pay back 2050 naira to his friend.