Question

Given an interest of $11,900 at 6% for 50 days (ordinary interest) calculate the principal

Answer 1

I = Prt
I = (11900)(0.06)(0.14) = 99.96

50 days needs to be converted to years, so do 50/365 to get 0.14. That's your amount in years.

So, your interest is $99.96