Question

Mr Tan bought a house for $410 000. He paid a deposit of 30% and took on a loan for the remaining amount. How much was his loan? Give your answer

correct to the nearest ten thousands.​

Answer 1

The amount of the loan Mr. Tan borrowed was $ 287,000.

Explanation:

Since Mr. Tan bought a house for $ 410,000, paying a deposit of 30% of its value and requesting a loan for the rest of its value, to determine the amount of the loan, the following calculation is required:

100 - 30 = 70

410,000 x 0.70 = X

287,000 = X

Therefore, the amount of the loan Mr. Tan borrowed was $ 287,000.