Question

Amy got a $1,000 loan from her bank, and she had to repay $1,550. What are the principal and interest amounts in this transaction?

Answer 1

is there any answers

Answer 2

use the rule of 3 simple

1000 mean 100%
550 x%
..............................
x = 550*100/1000 = 55%

so the principal and interest amount in this transaction is 55%

hope helepd

Answer 3

if she borrowed 1,000, that is the principal

so the interest is 550

Answer 4

hope helepd :-)