Question

What is the principal which would amount to $6900 in 3 years at 5% simple interest per annum?​

Answer 1

Answer:

$6000

Step-by-step explanation:

accumulated amount = A = PI

A = $6900

Let P = x

6900 - I = x

I = (x)(0.05)(3yrs) = 0.15x

6900 - 0.15x = x

Add

6900 = 1.15x

Divide, solve for x

x = 6000