Question

PLZ HELP THIS IS TIMED

Bobby borrowed $500 at 12 percent simple annual interest. He paid back $680 to pay off the loan. How many years did it take Bobby to pay back the loan? 3 4 11 12

Answer 1

3 years

500/100×12=60

Total Interest = 680-500 = 180

Total Time = 180/60 = 3