Answer:
At a rate of 10% per annum, she invested $3750 earning a simple interest of $750 for 2 years.
Step-by-step explanation:
Simple Interest = (Principal amount) x (Rate of interest) x (Time)
Simple Interest: $750
Time: 2 years
Rate: 10%
use the formula:
$750 = Principal amount x 10% x 2
convert the percentage to decimal by dividing to 100.
10% = 10/100 = 0.1
Substitute the value into the formula.
$750 = Principal amount x 0.1 x 2
$750 = Principal amount x 0.2
Rearrange the formula
Principal = $750/0.2
Principal = $3750
