Gina loaned Gerry 300 at an interest rate of 10 percent a year. how much interest will Gina get if Gerry pays Gina after 6 months

Answer 1

To calculate the interest, we need to know the time period in years. Since Gerry will pay after 6 months, which is half a year, we can use 0.5 as the time period in years.

The interest can be calculated using the formula: Interest = Principal * Rate * Time

In this case:
Principal (P) = 300
Rate (R) = 10% = 0.10
Time (T) = 0.5

Interest = 300 * 0.10 * 0.5
Interest = 15

Therefore, Gina will get 15 units of currency as interest if Gerry pays her after 6 months.