Question
A sum of money is invested for 24 months at 13,5% p.a. simple interest, and the repayment at the end of the term is R5100. Find the original principal amount that was invested.
R4015.75
R6477
R28.69
R1202.83
R344.25
R4015.75
R6477
R28.69
R1202.83
R344.25
Answers
GPT 3.5
To find the original principal amount, we can use the formula for simple interest:
A = P(1 + rt)
Where:
A = Total amount at the end of the term (R5100)
P = Principal amount
r = Annual interest rate (13.5% or 0.135)
t = Time in years (24 months/12 = 2 years)
Substitute the values into the formula:
5100 = P(1 + 0.135*2)
5100 = P(1 + 0.27)
5100 = P(1.27)
Divide by 1.27 to solve for P:
P = 5100 / 1.27
P = 4015.75
Therefore, the original principal amount that was invested was R4015.75.
Therefore, the answer is R4015.75.
A = P(1 + rt)
Where:
A = Total amount at the end of the term (R5100)
P = Principal amount
r = Annual interest rate (13.5% or 0.135)
t = Time in years (24 months/12 = 2 years)
Substitute the values into the formula:
5100 = P(1 + 0.135*2)
5100 = P(1 + 0.27)
5100 = P(1.27)
Divide by 1.27 to solve for P:
P = 5100 / 1.27
P = 4015.75
Therefore, the original principal amount that was invested was R4015.75.
Therefore, the answer is R4015.75.