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Tom had to pay $240 in interest on a loan. The interest was 12% of the total loan. How much was the loan?

Tom had to pay $240 in interest on a loan. The interest was 12% of the total loan. How much was the loan?
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1 vote
Tom had to pay $240 in interest on a loan. The interest was 12% of the total loan. How much was the loan?

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User Ronaldo
by
9.2k points

1 Answer

4 votes
12% of x is equal to 240 where x is the total loan

12% as a fraction =
(12)/(100)


(12)/(100) of x is equal to 240


(12)/(100) × x = 240

(12x)/(100) = 240
12x = 24000
x = 2000

The total loan was $2000.
answered
User Lukiffer
by
8.6k points
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