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Sagot :
The original amount borrowed was $517.
Simple Interest is the method to calculate the interest charged for a given number of years and given rate , in simple interest the principle remains same for each year.
Simple interest =[tex]\frac{P*R*T}{100}[/tex]
where P= principle, R=rate in % , T= time
We know that Amount= Principle+ Simple Interest........(1)
According to the question
Amount=$610.06
Rate=18%
time = 1yr
Substituting the value in equation (1) we get
[tex]610.06=P+\frac{P*18*1}{100}[/tex]
[tex]610.06=\frac{100P+18P}{100}[/tex]
[tex]610.06=\frac{118P}{100}[/tex]
[tex]61006=118P[/tex]
[tex]P=\frac{61006}{118}[/tex]
[tex]P=517[/tex]
Therefore , The original amount borrowed was $517.
Learn more about Simple Interest here https://brainly.com/question/26400531
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