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jek_recluse [69]
4 years ago
11

How much should you invest at 5% simple interest in order to have a balance of 1,200 in two and a half years

Mathematics
1 answer:
BARSIC [14]4 years ago
5 0

Answer:

We should invest 9600 .

Step-by-step explanation:

Interest received in Two and a half year = 1,200

So, Interest that should be received in a year = 1200×\frac{2}{5}

                                                                            = 480

Interest rate = 5%.

Let we had invested  amount X.

Thus 5 % of X we will get in a year as interest

Which is \frac{5}{100}×X = \frac{X}{20}.

It is also equal to 480 as calculated above,

So. X = 480×20 = 9600.

Thus,

We should invest 9600 .

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