Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Frans paid R9600 as interest on a loan he took 5 years ago at 16% rate. What's was the amount he took as loan?

Sagot :

Roberta432

Step-by-step explanation:

Interest (I)=R9600

Rate(R)=16%

Time (T)=5years

Principal (P)=?

P=100×I÷R×T

P=100×R9600÷16×5

P=R960000÷80

P=R12, 000

sreedevi102

Answer:

      The amount he took as loan = R12,000

Step-by-step explanation:

Simple Interest

Let loan amount be = P

R = 16%

T = 5years

I = 9600

Find P

  [tex]I = \frac{PRT}{100}\\\\9600 = \frac{P \times 16 \times 5}{100}\\\\P = \frac{9600 \times 100}{16 \times 5} = 12,000[/tex]

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.