SOLUTION: If an amount of 2,160, which includes 10% simple interest for 2 years, is paid back, how much was borrowed 2 years earlier?( $1800)
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Question 1110576
:
If an amount of 2,160, which includes 10% simple interest for 2 years, is paid back, how much was borrowed 2 years earlier?( $1800)
Answer by
math_helper(2461)
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You got it, $1800.
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The work-out:
x = amount invested 2yrs ago
2(0.10)x + x = 2160
1.20x = 2160
x = 2160/1.2 = 1800