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Selena2345

  • 3 years ago

Ms.Hobson agrees to pay 11% interest on a loan for her new automobile. She is charged $2200 interest on a loan for 1 year. How much did she borrow ?

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  1. ash2326
    • 3 years ago
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    She is charged $2200 interest on a loan for 1 year Let she borrowed x , then interest to be paid in a year \[I=x\times 11\%\] interest is 2200 \[2200=x\times \frac{11}{100}\] Can you find x?

  2. Selena2345
    • 3 years ago
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    how do i find x?

  3. ash2326
    • 3 years ago
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    First step: Multiply both sides by 100, what would you get?

  4. Selena2345
    • 3 years ago
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    which sides

  5. ash2326
    • 3 years ago
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    \[2200\times 100=x\times \frac{11}{100}\times 100\]

  6. Selena2345
    • 3 years ago
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    2200 x 100=220000 11/100 x 11=11

  7. ash2326
    • 3 years ago
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    \[220000=x\times 11\] Now divide both sides by 11 to find x

  8. Selena2345
    • 3 years ago
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    220000/11=20000 11/11=1

  9. ash2326
    • 3 years ago
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    so what you got for x?

  10. Selena2345
    • 3 years ago
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    x=20000

  11. ash2326
    • 3 years ago
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    Correct, this is the amount borrowed. Do you understand?

  12. Selena2345
    • 3 years ago
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    yes

  13. Selena2345
    • 3 years ago
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    Thank You Ash2326

  14. ash2326
    • 3 years ago
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    Welcome :)

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