nahed
1 Answer
MONDEOMAN
HI I ANSWERED THIS QUESTION YESTERDAY
IF YOU HAVE $10000 AT 12% FOR ONE YEAR THE INTEREST WOULD BE 10000 X 12/100 =
120000/100 = $1200
AS THE TOTAL INTEREST REQUIRED IS $2200 SUBTRACT THE $1200 ALREADY EARNT THAT MEANS YOU REQUIRE $1000 FROM THE REMAINING $5000
LETS CALL INTEREST M THEREFORE 5000 X M/100 = 1000 M/100 =1000/5000
M/100 =1/5 THEREFORE M = 100/5 M = 20%
THEREFORE $5000 AT 20% FOR ONE YEAR YEILDS $1000 ADD THIS TO YOUR $1200 AND YOU HAVE YOUR TOTAL
I HOPE YOU HAVE FOLLOWED THE WORKING OUT OF THIS PROBLEM IF NOT PLEASE POST ANOTHER QUESTION
| 14 years ago. Rating: 0 | |
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