Question

(1) How much time will it take for an amount of 450 to yield 81 as interest at 4.5% per annum of simple interest?

Answer 1

Answer:

Principle = 450

Simple Interest = 81

Rate of Interest = 4.5 %

Time = ?

Since , (PTR) / 100 = Simple Interest

=> (450*4.5*T)/100=81

=> 450*4.5*T = 8100

=> T = 4 Years

So it will take 4 years for an amount of 450 to yield 81 as interest at 4.5 % per annum of simple interest.