Question

After t years, the amount of money in a savings account that earns simple interest is p + prt, where p is the starting amount and r is the yearly interest rate. factor this expression.

Answer 1

Using I=PRT/100
replacing the given information;
(p+prt)=P×r×t


⇒p+prt=P×rt
P=(p+prt)/(rt)
Principal(P)= (p/rt)+p
                   =p((1/rt)+1)