uncle max borrowed money from a friend at 8 percent simple interest, he paid an interest of 1200 after 18 months, how much did he borrow?

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13-01-2014
Math

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uncle max borrowed money from a friend at 8 percent simple interest, he paid an interest of 1200 after 18 months, how much did he borrow?

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Manelidn Manelidn · Answer 1 · 2014-01-13T01:56:36+08:00

Manelidn Manelidn

13-01-2014

Given:
Interest= 1200
Rate= 8% = .08
time= 18 months

Use the formula : I= PRT
P= I/RT
P = 1200 / [.08x18)]
P= 1200 / 1.44
P = 833.33

Uncle Max borrowed 833.33

:))

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