the amount in an account which was opened 180 days ago is rm205.if the amount was offered a simple interest of 5 % per annum find the original principal?
180 days is 1/2 year, so
x * (1 + .05 * 0.5) = 205
now just find x
Po + Po*r*t = 205.
Po + Po*0.05*(180/365) = 205,
Po + 0.0247Po = 205,
Po = $200.07.
Well, well, well, let's compute the original principal, shall we?
Since the account was opened 180 days ago, we need to adjust the time to years. So, 180 days divided by 365 (approximately) gives us 0.493 years.
Now, we have the interest rate of 5% per annum, which means we need to multiply the original principal by (1 + 0.05) to get the final amount in the account.
205 = P(1 + 0.05 * 0.493)
205 = P(1.02465)
To find P, we divide both sides by 1.02465:
P = 205 / 1.02465
P ≈ 200.19
Ta-da! The original principal is approximately RM200.19. Now, go forth and let that money work its magic!
To find the original principal, we need to use the formula for simple interest:
Simple Interest = (Principal) x (Rate) x (Time)
Let's break down the given information:
Principal (P) = Unknown (We need to find this)
Rate (R) = 5% per annum = 0.05
Time (T) = 180 days
Since the rate is given in terms of per annum (per year), we need to convert the time from days to years. We know that there are 365 days in a year.
Time (T) = 180 days / 365 days/year = 0.49315 years (rounded to 5 decimal places)
Now, we can calculate the simple interest using the formula:
Simple Interest = P x R x T
205 = P x 0.05 x 0.49315
To find the original principal (P), we can rearrange the formula:
P = 205 / (0.05 x 0.49315)
P = 205 / 0.0246575
P ≈ 8312.09
Therefore, the original principal is approximately RM8312.09.
To find the original principal amount, we can use the formula for simple interest:
Simple Interest = Principal * Rate * Time
Given:
Simple Interest = RM205
Rate = 5% per annum
Time = 180 days
We need to convert the time from days to years, since the rate is given in terms of per annum. There are 365 days in a year:
Time in years = 180 days / 365 days/year = 0.4932 years (approx.)
Now, we can rearrange the formula to solve for the principal:
Principal = Simple Interest / (Rate * Time)
Substituting the given values:
Principal = RM205 / (0.05 * 0.4932)
Principal = RM205 / 0.02466
Principal ≈ RM8313.20
Therefore, the original principal amount of the account, which was opened 180 days ago, is approximately RM8313.20.