Find the amount borrowed if 900 is due at the end of 10 mont

Find the amount borrowed if $900 is due at the end of 10 months when an annual simple interest rate of 10% is used. Amount borrowed=?

Solution

Let Amount borrowed = $x

No we have a formula,

S.I. = P*r*t

=> 900 = x*0.10*(10/12)

=> 900= 0.0833x

=> x= 10800.43

Amount borrowed= $10800.43