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Garang made a 5 years investment, the interest rate 15%. He earned 11,250 SSP in interest. How much was original investment?
Mathematics
ScanSolve AI Answer
Step-by-step solution
2 stepsHere's the solution for the first simple interest problem.
The formula for simple interest is , where:
- is the interest earned
- is the principal amount (original investment)
- is the annual interest rate (as a decimal)
- is the time in years
Question 1: Garang made a 5 years investment, the interest rate 15%. He earned 11,250 SSP in interest. How much was original investment?
Identify the given values.
Given:
Interest () = 11,250 SSP
Time () = 5 years
Rate () = 15% = 0.15Use the simple interest formula to find the principal ().
Rearrange the formula to solve for :
Substitute the given values:
The original investment was 15,000 SSP.
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