Elisa needs money to repair her home air​ conditioner, so she pawns her bicycle. The pawnbroker loans Elisa ​$270. Nineteen days​ later, Elisa gets her bicycle back by paying the pawnbroker ​$292.80. What annual simple interest rate did the pawnbroker charge​ Elisa? Assume 360 days in a year.

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Q: and

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A: SOLUTION-

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A: Principal amount = $270 Amount paid = $289.80 Interest=$(289.80-270)=$19.80 t=12 days

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Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.