SOLUTION: Please help me with the homework 1. R2000 invested on the 6 march 2016 at simple interest rate of 15% p.a. accumulated to R2240. Calculate the date on which this transaction matur

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Question 1193301: Please help me with the homework
1. R2000 invested on the 6 march 2016 at simple interest rate of 15% p.a. accumulated to R2240. Calculate the date on which this transaction matured.
2. A certain amount of money was invested on the 3 march 2016 at a simple interest rate of 12%p.a. and accumulated to R612 on the 2 may 2016. How much was the money?
Found 2 solutions by Boreal, MathTherapy:
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
240=2000*0.15*t (in years)
240=300t
t=0.8 years or about 9.6 months or 292 days or 23 Dec 2016.
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that is 2 months' time or 1/6 year
I=prt
612=p*0.12*(1/6)
multiply by 6
3672=0.12p
p=3672/0.12=30,600R

Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

Please help me with the homework
1. R2000 invested on the 6 march 2016 at simple interest rate of 15% p.a. accumulated to R2240. Calculate the date on which this transaction matured.
2. A certain amount of money was invested on the 3 march 2016 at a simple interest rate of 12%p.a. and accumulated to R612 on the 2 may 2016. How much was the money?
For 2., the invested amount accumulated to R612. With the term/time
being 2 months, or matrix%281%2C6%2C+2%2F12%2C+or%2C+%281%2F6%29%5E%28th%29%2C+of%2C+a%2C+year%29, we get the following:  
                                                 Amount invested, or