SOLUTION: cheers bruno invested a certain amount at 8% annual rate for 2 years to gain an interest of php 4800. how much did she invest?

Question 1130882: cheers bruno invested a certain amount at 8% annual rate for 2 years to gain an interest of php 4800. how much did she invest?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.

The simple interest formula is


    I = P*r*t,


where P is the principal, t is the annual rate and t is time in years.


In your case it gives an equation 


    4800 = P*0.08*2.


Solve for P :    P =  = Php 30000.     ANSWER

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