1971 AHSME Problems/Problem 4
After simple interest for two months at % per annum was credited, a Boy Scout Troop had a total of in the Council Treasury. The interest credited was a number of dollars plus the following number of cents
We can use the formula for simple interest, where is the principal (initial amount), is the total, is the interest rate per year, and is the time in years.
We are solving for so we can rearrange the equation: Plug in all the necessary numbers:
The answer is
-edited by coolmath34
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