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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?

Respuesta :

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]

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