Question

Tina invest some money in an account that earns simple interest at 3% per year. At the end of one year the investment is worth$2781. How much money did she invest?​

Answer 1

Answer:

$2700

Step-by-step explanation:

Method 1: Basic

S.I=(P x T x R)/100

Amount = S.I + P

$2781 = (P x 1 x 3)/100+P

P=$2700

Method 2:Ratio method

Given interest rate 3%

3/100

3 in the ratio implies the interest

100 in the ratio implies the principal

We know that the Interest + principal is the Amount

100+3=103Ratio in Amount

Given amount is $2781

103Ratio------>$2781

1Ratio------->$27

We want the principal so we multiply it by 100

Therefore she invested $2700