SOLUTION: A man invest $2000 at 5% per annum simple interest in order to pay his son school fees.He pays the fees of $400 partly from the interest and partly from the capital invested. How m

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Question 1141922: A man invest $2000 at 5% per annum simple interest in order to pay his son school fees.He pays the fees of $400 partly from the interest and partly from the capital invested. How much capital is left after 3 years?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+I+=+2000%2A.05%2A3+
+I+=+300+
and
+400+-+300+=+100+
+2000+-+100+=+1900+
He has $1,900 left after 3 years