Question

Anna invested 2500 at an annual rate of 5% how long will it take until Anna earns 1125 in interest pls explain

Answer 1

p=2500
R=5
T=x
SI= PTR/100
T=(SIx100)/PxR
T=1125x100/(2500x5)
=1125/125
= 9
9 years after he will get 1125 RS simple interest

Answer 2

The time taken is 9 years.

• Simple interest is a quick and simple formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principle, and the number of days between payments are multiplied to calculate simple interest. Although some mortgages employ this calculation approach, this kind of interest typically relates to auto loans or short-term loans.
• When you make a payment on a loan with simple interest, the money first goes toward the interest for that month and the rest is applied to the principal. Interest never builds up because it is always paid in whole each month. Compound interest, on the other hand, adds some of the monthly interest back onto the loan; each month after that, you pay new interest on the previous month's interest.

Here, according to the given information, we are given that,

Principal (p) = Rs. 2500.

Rate of interest (r)= 5%

Simple interest = Rs. 1125.

Now, we know that,

Simple interest = $\frac{prt}{100}$, where t is the time period.

Then, we get, t = $\frac{112500}{2500.5} = 9$ years.

Hence, the time taken is 9 years.

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