Question

11.

ALGEBRA Zakama Hussein earned $77.00 in simple interest in 18 months ( 1.5 years) at an annual interest rate of 7%. How much money did she invest?

$1466.67

$1650.00

$85.22

$733.33

Answer 1

$733.33

Explanation:

The question is on finding the principal value

Formulae for simple interest

S.I= P×R/100×T where P is the invested amount of money, R is interest rate and T is time in years

Given that;

Simple interest=$77 , R=7% and T=1.5 years then

S.I= P×R/100×T...................substituting the values given

77=P×7/100 × 1.5

77=P×0.105

77/0.105 =P

$733.33=P