SOLUTION: I am required to pay 5% on the principal (\$5000)...I know that 5% = \$250. But, what if I knew what 5% was and didn't know what the principal amount was? How would I calculate the

Algebra ->  Algebra  -> Percentages: Solvers, Trainers, Word Problems and pie charts  -> Lessons -> SOLUTION: I am required to pay 5% on the principal (\$5000)...I know that 5% = \$250. But, what if I knew what 5% was and didn't know what the principal amount was? How would I calculate the      Log On

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 Algebra: Percentage and Pie Charts Solvers Lessons Answers archive Quiz In Depth

 Question 326801: I am required to pay 5% on the principal (\$5000)...I know that 5% = \$250. But, what if I knew what 5% was and didn't know what the principal amount was? How would I calculate the principal amount?Answer by JBarnum(2044)   (Show Source): You can put this solution on YOUR website!5%=.05 .05(5000)=250 so we work backwards to get amount .05(x)=250 x=250/.05