To help his sister, Lydia, pay for college, Jason offered her a loan at a simple annual interest rate of 2%. At the end of 4 years, Lydia paid off the loan, and Jason received $80 in interest. How much money did Jason loan his sister?

Question

shaik0124 · Answer

simple interest=(principal*time*rate)/100
as sinterest is $80 ,time is 4 years and rate is 2% now calculate principal that will be ur answer

shaik0124 · Answer

@MinniMCMiner

shaik0124 · Answer

$80=(p*4*2)/100
80*100=p*8
8000/8=p
therefore p=$1000

shaik0124 · Answer

jason offered $1000  to his sister

shaik0124 · Answer

understood?