A person borrowed an amount of money for a year at an interest rate of 12%. If the total interest is $1500, what was the original borrowed amount?
Define a variable ** Let X be the price of the borrowed amount.
How much is the total interest? ** The interest is X*.12 = $1500.
What was the original borrowed amount? ** So the borrowed amount is X = $1500/.12 = $<<1500/.12=12500>>12500.
#### 12500