Find the principal which amounts to 5 500 at a ... - JAMB Mathematics 2017 Question

Principal = P, Simple Interest = I, Amount = A

Amount = Principal + Simple Interest

I = (\frac{PRT}{100})

R = rate, T = time

I = (\frac{P \times 5 \times 2}{100})

I = (\frac{10P}{100})

I = (\frac{P}{10})

Amount A = P + I

5500 = P + (\frac{P}{10})

Multiply through by 100

5500 = 10P + P

5500 = 11P

p = (\frac{5500}{11})

p = ₦5000