If a man earns $420 interest in one year at 7%, what was the amount of money invested?

1 Answer
smendyka
Oct 23, 2016

Assuming it was not compounded interest:
X = $420 * 100/7

Explanation:

Assuming it was not compounded interest:

The equation is looking for X, the amount of money invested.

The equation would be:

X * 7/100 = $420

Then solve for X by multiplying each side by 100/7 gives you:

X = $420 * 100/7

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