Question

The simple interest on a certain sum of money invested at 5% per annum for 5 years Is equal to $5. How much money was invested? ​

Answer 1

Answer:

answer is also 50000₹

Answer 2

Given - Interest, rate of interest and time

Find - Principal amount

Solution - The amount of money invested was $20

The principal amount for given simple interest earned can be calculated by the formula -

Simple interest = Principal*Rate of interest*Time/100

Keep the values in the formula to find the principal amount.

Principal = 5*100/(5*5)

Performing multiplication and division to find the principal amount invested.

Principal = 20

Thus, $20 was invested.