Question

What amount must be invested at 5.7% p.a. for 3 years to earn $651.51 in simple interest?

Answer 1

Hey hope this will help you-------------

Let the principal be X

Rate of Interest=5.7%p.a.

time =3 years

S.I.=P X R X T

651=x X 5.7 X 3

651 X =X

5.7 X 3

3807.01754 =x