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Sagot :
Step-by-step explanation:
Interest (I)=R9600
Rate(R)=16%
Time (T)=5years
Principal (P)=?
P=100×I÷R×T
P=100×R9600÷16×5
P=R960000÷80
P=R12, 000
Answer:
The amount he took as loan = R12,000
Step-by-step explanation:
Simple Interest
Let loan amount be = P
R = 16%
T = 5years
I = 9600
Find P
[tex]I = \frac{PRT}{100}\\\\9600 = \frac{P \times 16 \times 5}{100}\\\\P = \frac{9600 \times 100}{16 \times 5} = 12,000[/tex]
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