Patrick invested money into a special savers bank account each year money in the account earns 4% interest after one year, the t

Question

3 years ago

9

otal amount of money in the account was £291.20 how much did Patrick invest?

1 answer:

Fudgin [204] · Answer 1 · 2022-06-28T04:34:41+03:00

3 0

Answer: £280

Step-by-step explanation:

After a year, the total amount that was in the account was £291.20 which according to the question is 4% more than the amount Patrick invested.

Assume the amount invested is x.

x + 0.04x = 291.20

1.04x = 291.20

x = 291.20/1.04

= £280