Question

Harry buys a sofa set that costs $2000.00. He pays for it by installments at an interest rate of 5% per year. What is the total amount he has to pay at the end of the one year?

Answer 1

2000 = 100%   
    ?    =  105%

To calculate~~~~


$\frac{2000}{100}$   X 105 

= $2100.00