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What is the principal if... Rate = 22% Time 1 year Interest = $110

What is the principal if... Rate = 22% Time 1 year Interest = $110
asked 179k views
5 votes
What is the principal if...
Rate = 22%
Time
1 year
Interest = $110

What is the principal if... Rate = 22% Time 1 year Interest = $110-example-1
asked
User Tom Greenwood
by
8.0k points

1 Answer

6 votes

Answer:

P = $500

Explanation:

SI = P×R×T/100

P = (SI × 100)/R×T

P = 110×100/22×1

= $ 500

answered
User Michael Pell
by
7.7k points
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