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?
Let’s work this out in a step by step way to be sure we have the right answer.
12500
Let X be the price of the borrowed amount.

The interest is X *.

12 = $1500.

So the borrowed amount is X = $1500 /.

12 = $12500.

.

So, the final answer is 12500