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Money is borrowed at 10% simple interest. After one​ year, ​$597.30 pays off the loan. How much was originally​ borrowed?

Money is borrowed at 10% simple interest. After one​ year, ​$597.30 pays off the loan. How much was originally​ borrowed?
asked 183k views
12 votes
Money is borrowed at 10% simple interest. After one​ year, ​$597.30 pays off the loan. How much was originally​ borrowed?

asked
User Cstoltze
by
8.1k points

2 Answers

8 votes

Answer:

$543

Explanation:

597.3/1.10 =543

543*.10 = 54.3

597.3-54.3 = 543

answered
User Glm
by
8.8k points
7 votes
that means it’s $925
answered
User Navin Peiris
by
8.4k points
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