Aprincipal that will amout to 15 for 8 years at 9/1/2 %

The principal amount is 85227.27 and the interest is 64772.73.

Solution:

Given:

Amount (A)= 150000

Number of years (n)= 8

Rate of interest (r)=

To find: The principal (P)

We know that the principal is the sum of amount and interest. That is,

This can be written as

The formula of simple interest is

On equating (1) and (2) we get,

On substituting the values we get,

On solving we get,

On grouping the like terms together we get,

If principal is 85227.27, then the interest will be

step-by-step explanation:

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