Question

the interest on an investment is $125.08. if the principal was invested at 6% for years, what was the principal? A) $22.51 B) $6.95 C) $2,084.67 D) $694.84

Answer 1

Option C is correct.

Explanation:

Interest = $ 125.08

Rate = 6 %

We know that interest is given by

`S.I. = (P R T)/(100)`

`125.08 = (P (6)(1))/(100)`

P = $ 2084.67

This is the value of interest. Thus option C is correct.