Question

A bank offers 9% p.a. simple interest on an investment. At the end of 4 years the interest earned was $215. How much was invested?
A) 597.22
B) 345
C) 456
D) 378

Answer 1

Answer:

Step-by-step explanation:

Answer:   A) 597.22

I = (p x r x t)/100

Answer 2

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Here is your answer.

S.I = $215

Time = 4 years

Rate of interest = 9% p.a.

As we know the formula,
$si = \frac{p \times t \times r}{100} \\ \\ 215 = \frac{p \times 4 \times 9}{100} \\ \\ p = \frac{215 \times 100}{4 \times 9} \\ \\ p = \frac{21500}{36} \\ \\ p = 597.22$

The answer is Option A) $597.22

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