Question

johnson paid 9600/=as interest on a loan he took 5 years ago at 16% rate of simple interest what amount he took as a loan​

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$9600\\ P=\textit{original amount deposited}\\ r=rate\to r\%\to (16)/(100)\dotfill &0.16\\ t=years\dotfill &5 \end{cases} \\\\\\ 9600=P(0.16)(5)\implies 9600=0.8P\implies \cfrac{9600}{0.8}=P\implies 12000=P`