Question

I = prt

Answer 1

Answer:

The amount  we need to invest is 500 muggle money.

Step-by-step explanation:

Amount needle to study at Hogwarts = A = 800 muggle money

Principle amount that we need to invest = P

Duration of investment = T = 5 years

Rate if simple interest = R = 12%

Simple interest =  S.I

A = S.I + P

$800=\frac{P\times 12\times 5}{100}+P$

$800=0.6P+P$

$800=1.6P$

P = $\frac{800}{1.6}=500$

The amount  we need to invest is 500 muggle money.