Interest 65474

Uncle Vendelín paid 350 euros for a new washing machine, which he had to borrow 40 percent. He paid off the loan for one year - 15 euros per month. How much did he pay in interest? What was the interest rate on loan?

Correct answer:

i =  40 eur
p =  28.5714 %

Step-by-step explanation:

A=0.40 350=140 eur B=15 12=180 eur  i=BA=180140=40 eur
p=100 Ai=100 14040=140100 40=1404000=7200%=28.5714%

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