Answer:
The amount we need to invest is 500 muggle money.
Step-by-step explanation:
Amount needle to study at Hogwarts = A = 800 muggle money
Principle amount that we need to invest = P
Duration of investment = T = 5 years
Rate if simple interest = R = 12%
Simple interest = S.I
A = S.I + P
[tex]800=\frac{P\times 12\times 5}{100}+P[/tex]
[tex]800=0.6P+P[/tex]
[tex]800=1.6P[/tex]
P = [tex]\frac{800}{1.6}=500[/tex]
The amount we need to invest is 500 muggle money.
