Patrick invested money into a special savers bank account each year money in the account earns 4% interest after one year, the t
otal amount of money in the account was £291.20 how much did Patrick invest?
1 answer:
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
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