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Given an interest of 11900 at 6% for 50 days, calculate the principal

User Dave Wood
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Answer: P*0.06*(50/360) = 11900

Step-by-step explanation: good luck

User Nevelis
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Answer:

1428000

Explanation:

You want the principal that would result in interest of 11900 at a rate of 6% for a period of 50 days.

Ordinary interest

Ordinary interest is calculated on the basis of 360 days per year. The fraction of a year represented by 50 days is 50/360, so the interest formula tells us ...

I = Prt . . . . . . . where P is the principal at rate r for t years

11900 = P·0.06·(50/360)

P = 11900/(0.06·50/360) = 1428000

The principal amount is 1428000.

Given an interest of 11900 at 6% for 50 days, calculate the principal-example-1
User Mokuril
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