Question

Kaitlyn's older brother borrowed money for school he took out a loan that charges 6% simple interest he will end up paying 720 and interest after 6 years how much is Kaitlyn's brother borrow for school?

please please help asap​

Answer 1

Answer: 2000

Explanation:

The following can be gotten from the question:

Principal = Unknown

Rate = 6%

Time = 6 years.

Interest = 720

Note that: Interest = PRT / 100

720 = (P × 6 × 6) / 100

720 = 36P / 100

720 × 100 = 36P

72000 = 36P

Principal = 72000 / 36

Principal = 2000

The amount that he borrowed is 2000.