adeoluwadegoke adeoluwadegoke

08-04-2021
Mathematics

contestada

If the simple interest on a sum of money invested at 3% per annum for 242 years is N123, find the
principal

Respuesta :

franyaw31 franyaw31

08-04-2021

The principal is N16.94

Step-by-step explanation:

Simple Interest = (Principal × Rate × Time)/100

Principal = (Simple Interest × 100)/(Rate × Time)

Principal = (123 × 100)/(3 × 242)

Principal = 12300/726

Principal = 16.9421

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