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1 year ago

When Kevin bought a new bike ramp, he borrowed $1,200 at a rate of 18% for 9 months. How much interest did he pay?

Mathematics

1 answer:

AURORKA [14]1 year ago

7 0

We would apply the formula for determining simple interest which is expressed as

I = PRT/100

I is the interest

P is the principal or initial amount

R = interest rate

T = time in years

From the information given,

P = 1200

r = 18

Since there are 12 months in a year,

T = 9/12 = 0.75

Thus,

I = (1200 x 18 x 0.75)/100

Interest = $162

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Pass the incognito "4x" to the first term, changing the signal when changing sides.
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simplify by (-1)
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Substitute in equation (I) to find the value of "Y".

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Answer:
$\boxed{\boxed{ \left \ {{x=1} \atop {y=6}} \right. }}$

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