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?
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-> 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?
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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):
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
