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Popular Word Problems >

Find the principal which a man invested in a bank for 3years at the rate of 3percentage if the simple interest was 45naira

Solution

solve for

t h e p r in c i p a l w hi c h a man in v es t e d in a bank f or 3 ye a rs a t t h e r a t e o f 3 p erce n t a g e i f t h e s im pl e in t eres t w a s 45 nai r a

Solution

Principal : 500

Solution steps

Translate the problem into an equation:

45 = P \cdot 0.03 \cdot 3

Solve for

P, 45 = P \cdot 0.03 \cdot 3 : P = 500

Principal : 500

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