Mathematics
Grade-7
Easy

Question

Determine the principal, if £170 is collected for 2 years by lending at 1.5% per annum.

  1. 5666.66
  2. 1450
  3. 2546
  4. 3214

hintHint:

S.I = (P x T x R) / 100

The correct answer is: 5666.66


    I = PTR
    170 = P x 2 x 0.015
    P = fraction numerator 170 over denominator 2 cross times 0.015 end fraction = £5666.66

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