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What is 10 percent of 2420?

Updated: 9/21/2023
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11y ago

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10 percent of 2420 = 242

10% of 2420

= 10% * 2420

= 10%/100% * 2420

= 242

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Q: What is 10 percent of 2420?
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If the rate is simply 10 percent, then you will have to pay 10% of 2000, which is 200. If the rate is 10% per year and you have to pay that interest at the end of each year, you will pay 200 at the end of the first year, another 200 at the end of the second year, and 100 when you repay the loan six months later. A total of 500. But if the interest at the end of each year is not paid at that time it gets added to the loan and you now have to pay interest on the interest as well as on the original loan. So at the end of the first year you will owe 2200, at the end of the second year you will owe 2420, and six months later you will owe 2541, of which 541 would be interest. Calculations: End of first year = 2000 + 10% (200) = 2200 End of second year = 2200 + 10% (220) = 2420 The interest for the third year would be 2420 x 10% = 242 but as it is only for half a year it will be half of 242 = 121. Summary of interest calculations: 200 + 220 + 121= 541


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