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il63 [147K]
3 years ago
5

What is the amount of money , P, that will generate $40 in interest at a 10% interest rate over 5 years ?

Mathematics
2 answers:
EastWind [94]3 years ago
7 0

Answer:

The amount of money is 60$

Step-by-step explanation:

Given,         Principal, P = $40

                   Rate, R = 10%

                   Time, T = 5 years

We have to calculate the amount A = S.I + P

             S.I =\frac{ P\times R \times T}{100}

⇒           S.I = \frac{40\times 10\times 5}{100}

                          =  20

Hence, Amount = S.I + P

                            = 20 + 40 = 60$

zhenek [66]3 years ago
3 0
The formula is
I=prt
I interest earned 40
P principle ?
R interest rate 0.1
T time 5years
Solve for p to get
P=I÷rt
P=40÷(0.1×5)
P=80
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