Question

Find the time - principal = 5000 ,amount = 6450 and rate = 12

Answer 1

Answer:

2 5/12 years

Step-by-step explanation:

Principal = 5000

Rate = 12%

Amount = 6450

Formula for calculating time = 100×I/P×R

now, we need interest for the formula =

so, amount - principal = interest

interest = 6450-5000= 1450

T = 100×1450/5000×12

= 145000/60000

= now we will cut numerator zeros from denominators

= 145/60

= 29/12

= 2 5/12 years

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