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If the simple interest on a certain amount for 4 years is $200 at a rate of 5% p

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Question: If the simple interest on a certain amount for 4 years is $200 at a rate of 5% per annum, what is the amount?

Options:

  1. $800
  2. $1000
  3. $1200
  4. $1500

Correct Answer: $1000

Solution: 

Principal = (Simple Interest × 100) / (Rate × Time) = (200 × 100) / (5 × 4) = $1000.

If the simple interest on a certain amount for 4 years is $200 at a rate of 5% p

Practice Questions

Q1
If the simple interest on a certain amount for 4 years is $200 at a rate of 5% per annum, what is the amount?
  1. $800
  2. $1000
  3. $1200
  4. $1500

Questions & Step-by-Step Solutions

If the simple interest on a certain amount for 4 years is $200 at a rate of 5% per annum, what is the amount?
  • Simple Interest Calculation – Understanding how to calculate simple interest using the formula: Principal = (Simple Interest × 100) / (Rate × Time).
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