Problema Solution
the simple interest "i" earned over a particular period of time varies jointly as the principal "p" and rate "r", and "i" equals $264 when "p" equals $1100 and "r" equals 0.12. find P when "I" equals $360 and "r" equals .09.
Answer provided by our tutors
The simple interest formula is I = PxrxT
For the first case;
I = 264
P = 1100
r = 0.12
I = PrT
264 = 1100x0.12xT
T = 264/(1100x0.12)
T = 2
For second case
I = 360
r = 0.09
T = 2
I = PrT
P = I/(Tr)
P = 360/(2x0.09)
P = 2000
So the principal would be $2000.