a sum of money was invested at 8% per annum simple interest. If after 4 years the money amounts to N330.00. Find the amount originally invested

Assessment: JAMB UTME - Mathematics - 1985 Subject: General Mathematics

Question 1 Report

a sum of money was invested at 8% per annum simple interest. If after 4 years the money amounts to N330.00. Find the amount originally invested
Answer Details
S.I = PTR100 P T R 100

T = 4yrs, R = 8%, a = N330.00

330 - P = PTR100 P T R 100 , A = P + I

i.e. A = P + PTR100 P T R 100

330 = P + P(4)(8)100 P ( 4 ) ( 8 ) 100

33000 = 32P + 100p

132P = 33000

P = N250.00

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