Jason opened an account at MathsWatch Bank. MathsWatch Bank's interest rate was 4%. After one year, the bank paid him interest. The total amount in his account was then £1976. Work out the amount with which Jason opened his account

Question

Shania Acosta

Mathematics

15 February, 17:00

Jason opened an account at MathsWatch Bank. MathsWatch Bank's interest rate was 4%. After one year, the bank paid him interest. The total amount in his account was then £1976. Work out the amount with which Jason opened his account

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Answers (1)

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Carlo Brewer · Answer 1

1900

Step-by-step explanation:

let the deposit amount=x

interest=4%

total percent = 100

after adding interest percentage=100+4=104%

X x 104/100=1976

x=1976 x 100/104=1900