IDNStudy.com, ang iyong mapagkukunan para sa maaasahan at pangkomunidad na mga sagot. Hanapin ang mga solusyong kailangan mo nang mabilis at madali sa tulong ng aming mga eksperto.

Errol loaned Marvin some money at the rate of 7% interests per year when Marvin paid back the loan at the end of three years, he had to pay a P12, 000 interest. How much money did he borrow?

Sagot :

Use the formula for Simple Interest:
             I = Pin
Where: I = simple interest
           P = principal amount of money initially borrowed
           i = interest rate
          n = number of interest periods.

So we will just substitute: and find P:
  I = Pin
              12,000 = P(0.07)(3)
(12000)/(0.07X3) = P
         57,142.86 = P
            57, 143 = P money borrowed by Errol ...ANSWER