Question

5. How long will a principal earn an interest equal to half of it at 5% simple interest?

Answer 1

Answer:

Solutions:

let the principal be = £100

so interest = £100÷2 or £50

rate of interest = 5,%

so,

i= p×r×t/100

50 =100 ×5×t/100

5t =50

t = 10

time period = 10 years