# Answer to Question #30112 in Algebra for robert stevens

Question #30112

if a person borrows 5ooo and pays back 5350 then what is the interest expressed in percent?

Expert's answer

To find the interest expressed in percent, we shouldcalculate the ratio: Sum paid back to initial borrowed sum: 5350/5000=1.07. It

means that you pay back 107% of the amount you borrowed, so the interest is

107%-100%=7%, this is the sum that you pay additionaly to your

"credit".

means that you pay back 107% of the amount you borrowed, so the interest is

107%-100%=7%, this is the sum that you pay additionaly to your

"credit".

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