Question

on what principal will the simple interest be 7008 in 6 years 3months at 5% per year​

Answer 1

Answer:

22,425.60

Step-by-step explanation:

First we take the formula :

= interest / (the number of years multiply by the interest rate)  

= 7800/(6.25 x 0.05)  

= 22,425.60

Answer 2

Answer:

22425.6

Step-by-step explanation:

$SI = \frac{p * r * t}{100} = 7008\\\\\\\frac{p * 5 * 6\frac{3}{12} }{100} = 7008\\\\\\\frac{p * 5 * \frac{75}{12} }{100} = 7008\\\\\\\\frac{p * 5 * 75}{100* 12} = 7008\\\\\\\frac{75p}{48} = 7008\\\\\\ \frac{5p}{16} = 7008\\\\\\p = 7008*\frac{16}{5} = \frac{112128}{5} = 22425.6$