Question

An investment of 7.5% simple interest per annum becomes 1 819 after completion of 4 years. What was the amount invested?​

Answer 1

Answer:

Step-by-step explanation:

To find the interest for any given period of time, multiply the principle by the rate by the time.

Formula:I = P x R x T

Example: Find the simple interest on $900 for 2 years at 6%.

I = ?, P = $900, B = 6%, T = 2

$900 x .06 = $54, $54 x 2 = $108 interest - Answer

To find the amount, add the interest (I) to the principal (P).

Formula: A = P + I

Example: Find the interest and amount of $400 for 3 years, 3 months and 10 days at 6%.

I = P x R x T and A = P + I.

$400 x .06 x 3 = $72.00

$400 x .06 x 1/4 = 6.00

$400 x .06 x 10/360 = .66 2/3

$78.67 interest - Answer

A = P + I

= $400 + $78.67 = $478.67

Answer 2

Answer:

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