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John invested a certain amount of cash in a bank which paid 12% p.a. simple interest. After 10 years, his total saving were sh. 10000....

John invested a certain amount of cash in a bank which paid 12% p.a. simple interest. After 10 years, his total saving were sh. 10000. Determine the amount of money he invested initially.

Answers


joseph
Let the amount invested be sh. P
T =10 years
R = 12%
A = sh. 10000
But A = P + I
10000 = P + P x12% x10
10000 = 2.2P
Sh. 4545.45 = P

joseph rimiru answered the question on November 16, 2017 at 06:44

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