Question

Tina earned an interest of $3000 on her savings account after 10 years at a rate of 15%. How much money did she originally put in the account?

Answer 1

Answer:

Money she originally put in the account = $2000

Step-by-step explanation:

Given,

Simple Interest ( S.I ) = $3000

Time ( T ) = 10 years

Rate ( R ) = 15 %

We know that:

Simple Interest ( S.I ) = $\frac{P*T*R}{100}$

⇒ S.I × 100 = P × T × R

⇒ $3000 × 100 = P × 10 × 15

⇒ P = $\frac{3000*100}{10*15}$

∴ P = $2000

Therefore,

Money she originally put in the account = $2000

Answer 2

GIVEN:-

Simple interest earn by Tina = $3000.

The total time of saving = 10 years

The rate of interest = 15% per annum.

To find Principle amount.

SOLUTION:-

By using the formula of simple interest.

S.I. = (P×R×T) / (100)

So,

S.l. = $3000,

R = 15%,

T = 10 years.

So, by putting above data in formula we get P.

S.I. = (P×R×T) / (100)

3000 = (P×15×10) / ( 100 )

P = ( 3000×100 ) / ( 15 × 10 )

P = (300000) / (150)

P = 2000.

Therefore, $2000 originally Tina put in her account.

THANKS.