Q37. - Algebra 1

Question

Write a problem based on the following information:

$p=$ the principal amount; $0.12p=$ the interest charged; $p+0.12p=224$

Step-by-Step Solution

Answer

The problem is:

“A man borrowed money from his friend at 12% rate of interest. After some time, the man returned $224. Find the amount of money borrowed”.

Step 1. Given information.

The given information is:

$p=$ the principal amount; $0.12p=$ the interest charged; $p+0.12p=224$.

Step 2. Break the terms and write sentences.

Consider a man who borrowed money from his friend.

According to the given information, a man borrowed money with a 12% of interest rate.

Step 3. Write the problem.

The problem can be framed as in below:

A man borrowed money from his friend at 12% rate of interest. After some time, the man returned $224. Find the amount of money borrowed.