Calculate the length of time $400 to earn $160 if invested at 8%per annum
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Given : $400 to earn $160
invested at 8%per annum
To Find : length of time
Solution:
P = 400
R = 8
T = ?
SI = 160
SI = P * R * T/100
160 = 400 * 8 * T /100
=> 160 = 32 * T
=> T = 160/32
=> T = 5
Hence length of time is 5 Years
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