Jovana invested some money at a rate of 3% per year simple interest. At the end of 4 years the interest is $ 78. Work out the amount that she invested.
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Answer:
Step-by-step explanation:
78*4*3/100
9.36 I think
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Given : Jovana invested some money at a rate of 3% per year simple interest. At the end of 4 years the interest is $ 78.
To Find : the amount that she invested.
Solution:
Let say Amount invested = P $
Rate of interest R = 3 % per annum
Time T = 4 Years
SI = Simple interest = 78 $
SI = P * R * T /100
=> 78 = P * 3 * 4 / 100
=> P = 7800/12
=> P = 650
amount that she invested. = 650 $
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