Question

An investment that yielded 8% simple interest came due at the end of the year. Dominic received a check for the total amount (interest plus principal) of $173.88. What was his original investment?

Answer 1

Well, 8 percent simple interest would take 8 percent of the original amount, and add it onto the rest of the balance.

Or, 108%.

We can solve this by dividing the balance by 108, and multiplying it by 100 to find the original balance.

This can also be simplified to dividing it by 27 and multiplying it by 25.

Answer 2

so multipy 108 and 100?

Answer 3

Well, no. Divide by 108, then multiply by 100.

Answer 4

i divide 108 by what though?

Answer 5

$173.88