Precalculus word problem

Question

money is borrowed at 15% simple interest. after one year, $1129.30 pays off the loan. how much was originally borrowed?

Answer 1

We want the number such that, when increased by 15%, we get $1,129.30. This is $1,129.30/1.15 = $982. As a check, the number that's 15% more than $982 is $1,129.30. So $982 was originally borrowed.