The simple interest earned for certain amount for 3 years at 5% is AED. 450. The amount invested is ________. I need the steps a

Question

The simple interest earned for certain amount for 3 years at 5% is AED. 450. The amount invested is ________.

I need the steps also

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Thông Đạt 2 months 2021-08-28T07:54:45+00:00 1 Answers 0 views 0

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    2021-08-28T07:56:04+00:00

    Answer:

    • AED 3000

    Step-by-step explanation:

    Let the invested amount is x

    • Interest rate is r = 5% simple = 0.05 times
    • Time is t =  3 years
    • Interest amount I = AED. 450

    Using the interest formula and solving for x:

    • P*r*t = I
    • x*0.05*3 = 450
    • 0.15x = 450
    • x = 450/0.15
    • x = 3000

    The amount invested is AED 3000

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