For the transaction given, we shall apply a simple interest formula which is;
[tex]I=P\times R\times T[/tex]
Note however that the time in this instance is not up to 1 year but a fraction of 1 year, that is;
[tex]T=\frac{163}{365}[/tex]
Therefore, the interest shall be calculated as follows;
[tex]\begin{gathered} I=P\times R\times T \\ P=10280, \\ R=0.1\text{ (that is 10\% expressed as a decimal)} \\ T=\frac{163}{365} \\ I=10280\times0.1\times\frac{163}{365} \\ I=459.07945 \\ I=459.10\text{ (rounded to the nearest cent)} \end{gathered}[/tex]
The amount to be repaid after 163 days would be the principal plus the interest and that would be;
[tex]\begin{gathered} \text{Amount}=P+I \\ \text{Amount}=10280+459.10 \\ \text{Amount}=10739.10 \end{gathered}[/tex]
ANSWER:
Amount to be repaid is $10,739.10
