Question

If Sheila wants to earn 10% annual simple interest on an investment, how much should she invest (today) so that it's value is worth
$20, 000 in 15 months

Please maths experts help asap

Answer 1

Answer:

So Let Sum She should invest be Principal

so,

$p = \frac{si \times 100}{r \times t} \\ = > \frac{20000 \times 100}{10 \times \frac{15}{12} } \\ = > 200000 \times \frac{4}{5} \\ = > 160000$

She Should invest

$160000