Ask Question
29 December, 16:20

What could be the Principal Amount, if rate if interest is 16% and $18 is earned as an interest after 3 months

+5
Answers (1)
  1. 29 December, 16:35
    0
    The principal amount is $37.5

    Step-by-step explanation:

    Rate of interest = 16%

    Rate of Interest = $18

    Time = 3 months

    Interest = (principal amount x rate of interest x time) / 100

    18 = (p x 16 x 3) / 100

    1800 = 48p

    P = 1800/48

    P = 37.5

    The principal amount is $37.5
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What could be the Principal Amount, if rate if interest is 16% and $18 is earned as an interest after 3 months ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers