TWO YEARS AGO, KIM INVESTED RMP AT HER ACCOUNT WHICH EARNS r% simple interest . after eighteen months , she noticed that the amount had become rm 10450 and today amount is rm 10600 . FIND THE VALUE OF p and r

Answer 1

P(1+r)^18 = 10450
P(1+r)^24 = 10600

(1+r)^6 = 10600/10450
r = 0.0023782
Now find P.

Note that r is the monthly interest. Adjust to get the annual rate.

Answer 2

r% should be 3%
n P should be RM10,000