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If the simple interest on a sum of money is $300 after 4 years at a rate of 5% p

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Question: If the simple interest on a sum of money is $300 after 4 years at a rate of 5% per annum, what is the principal?

Options:

  1. $1500
  2. $1200
  3. $1000
  4. $900

Correct Answer: $1500

Solution: 

Simple Interest = Principal × Rate × Time, so Principal = SI / (Rate × Time) = 300 / (0.05 × 4) = $1500.

If the simple interest on a sum of money is $300 after 4 years at a rate of 5% p

Practice Questions

Q1
If the simple interest on a sum of money is $300 after 4 years at a rate of 5% per annum, what is the principal?
  1. $1500
  2. $1200
  3. $1000
  4. $900

Questions & Step-by-Step Solutions

If the simple interest on a sum of money is $300 after 4 years at a rate of 5% per annum, what is the principal?
  • Simple Interest Calculation – Understanding the formula for calculating simple interest and rearranging it to find the principal.
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