Answer:
$400
Step-by-step explanation:
Using the formula for calculating the simple interest expressed as;
Simple Interest = Principal * rate * time/100
Note that the principal is the amount he originally borrowed
I = PRT/100 ............ 1
Amount paid off A = Principal+Interest
A = P+I ............ 2
From equation 2; I = A-P......... 3
Substitute equation 3 into 1;
A-P = PRT/100
Given A = $440, R = 10%, Time = 1year
Substitute the given parameters into the resulting equation;
440 - P = P*10*1/100
440-P = 10P/100
440-P = 0.1P
440 = 0.1P+P
440 = 1.1P
Divide through by 1.1;
1.1P/1.1 = 440/1.1
P = $400
Hence the amount Mr Noel originally borrow is $400
