document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1026990>Question 1026990</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A man invests N1800 at simple interest. After 2 years th amount (including interest) is N1980. Fine the rate perbent per annum </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #642275 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=642275\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> simple interest formula ia:\r<BR>\n" );
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document.write( "i = p * r * n\r<BR>\n" );
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document.write( "i = interest<BR>\n" );
document.write( "p = principal <BR>\n" );
document.write( "r = rate of interest per time period<BR>\n" );
document.write( "n = number of time periods\r<BR>\n" );
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document.write( "man invests 1800<BR>\n" );
document.write( "after 2 years he has 1980\r<BR>\n" );
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document.write( "his interest earned is 1980 - 1800 = 180.\r<BR>\n" );
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document.write( "you get:\r<BR>\n" );
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document.write( "p = 1800<BR>\n" );
document.write( "i = 180<BR>\n" );
document.write( "n = 2\r<BR>\n" );
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document.write( "formula of i = p * r * n becomes:\r<BR>\n" );
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document.write( "180 = 1800 * r * 2\r<BR>\n" );
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document.write( "solve for r to get r = 180 / 1800 / 2 = .05\r<BR>\n" );
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document.write( "his interest rate is .05 per year.\r<BR>\n" );
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document.write( "that's 5% per year.\r<BR>\n" );
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document.write( "at 5% interest per year, he makes 1800 * .05 = 90 interest each year.\r<BR>\n" );
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document.write( "in 2 years that becomes 180.\r<BR>\n" );
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document.write( "with simple interest, you are only earning interest on the original principal each other.\r<BR>\n" );
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document.write( "this gives you the same amount of interest each year.<BR>\n" );
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