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

Question

3 years ago

10

original amount in the account

2 answers:

Goryan [66] · Answer 1 · 2022-01-17T19:52:49+03:00

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] · Answer 2 · 2022-01-17T21:06:20+03:00

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