Question

The simple interest earned for certain amount for 3 years at 5% is AED. 450. The amount invested is ________.

I need the steps also

Answer 1

• AED 3000

Explanation:

Let the invested amount is x

• Interest rate is r = 5% simple = 0.05 times
• Time is t = 3 years
• Interest amount I = AED. 450

Using the interest formula and solving for x:

• P*r*t = I
• x*0.05*3 = 450
• 0.15x = 450
• x = 450/0.15
• x = 3000

The amount invested is AED 3000