Question

You let your friend borrow $100 to buy a bike that they wanted. However, your friend said that they could pay you back in two months. You agree, but you charge them 12% interest. What is the balance that they have to pay you back?

Answer 1

You have to pay back $112
100x0.12=12
100+12=112

Answer 2

I think if your talking about 12 percent of 100 then the answer is if you want to check to see if I'm correct, using a calculator, enter 12÷100×100 which will give you 12 as the answer. I hope this helped you.