Question

You want to study at the Hogwarts School of Witchcraft and Wizardry after five years. You need 800 pieces of muggle-money to study there. You decide to deposit some pieces in the bank at an annual interest rate of 12%. How many pieces should you deposit today if you want to use the total amount to pay the fees?

Answer 1

Answer: 500 yello

this is how i did it

interest rate is 12%

1 year =12%

5 year =(5*12)%

5 years of interest rate

=60% ^_^

P+60% of P=80%

100% of P +60%of P=800

160%of P=800

160/100 times P =800

P= 800 times 100/160 sooooooo...

ITs 500 :)