freddie borrowed $600 from the bank to buy a new table saw. the interest payment will be $30. what is the interest for each $100 borrowed

Question

emma borrows $1,300from her bank. The interest fees are $5 for every $100 borrowed. How much will Emma be charged in interest fees.

Answer 1

There are two questions here. First Freddie: the interest on $600 is $30, so the interest on $100 is a sixth of the interest on $600, which is 30/6=$5. So the interest on each $100 is $5.

Now Emma: $1300 is 13 times $100, so the interest fees will be 13 times as much as they are for $100=13*5=$65.