Question
Determine the principal, if £170 is collected for 2 years by lending at 1.5% per annum.
- 5666.66
- 1450
- 2546
- 3214
Hint:
S.I = (P x T x R) / 100
The correct answer is: 5666.66
I = PTR
170 = P x 2 x 0.015
P = = £5666.66
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