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BALMADRESSAPITULAIN
Answered

2. Elvie borrowed money from the bank 8% simple interest. If she paid an
interest of P480.00 after 1 year, how much money did she borrow?
1. Understand the a. What is asked in the problem?
problem situation.
b. What are the given facts?
2. Plan what to do.
c. What is the formula to use?
3. Carry out the d. Solution
plan.
e. What is the final answer?​

Sagot :

CALLAFRIENDIN

1a. Elvie borrowed Money from the bank

1b. Interest rate is 8%. She paid P480 as interest after a year.

2c. Interest ÷ Interest Rate = Borrowed Money

3d. P480 ÷ 8% = P6000

4e. The final answer is P6000.00.

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