Problema Solution

Find the simple interest at the rate of 5% p.a for 3 years on that principal which in 4 years,8 months at the rate of 5% p.a gives $1200 as simple interest.

Answer provided by our tutors

Find the simple interest at the rate of 5% p.a for 3 years on that principal which in 4 years,8 months at the rate of 5% p.a gives $1200 as simple interest.

Answer : $771.42