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mariarad [96]
3 years ago
10

Tom started a savings account that earned $168 an interest in eight years with an annual rate of 7% simple interest what was the

original amount in the account
Mathematics
2 answers:
Goryan [66]3 years ago
8 0

Answer:

Step-by-step explanation:

I = PTR/100

Given from the question:

I = $168

R = 7%

T = 8

P = ?

Substituting into the formula , we have

168 = P X 8 X 7 / 100

168 X 100 = 56P

16800 = 56P

Therefore

P = 16800/5

P = 300

Therefore the original amount in the account is $ 300

mojhsa [17]3 years ago
7 0

Answer:$300

Step-by-step explanation:

S.I=P×R×T/100

S.I =Simple interest

P=principal amount

R=Rate

T=Time

100×S.I/R×T=P

100×168/7×8

=16800/56=$300

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