Answer: [tex]\$1120[/tex]
Step-by-step explanation:
Given
Man borrows $800 for 2 years
Rate of interest is R=20%
Simple interest is given by
[tex]\Rightarrow S.I.=\dfrac{P\times R\times T}{100}[/tex]
Insert the values
[tex]\Rightarrow S.I.=\dfrac{800\times 20\times 2}{100}\\\\\Rightarrow S.I.=\$320[/tex]
So, total payable amount is
[tex]\Rightarrow 800+320\\\Rightarrow \$1120[/tex]
