how to find time in simple interest step by step with an example also
Answers
Answer:
To find Time when Principal Interest and Rate are given the rules are.
Interest = (Principal × Rate × Time)/100
Time = (100 × Interest)/(Principal × Rate)
Examples to find Time (T) when Principal (P), Interest (I) and Rate (R) are given:
1. Find Time when, Principal = $ 1500; Interest = $ 450; Rate = 5% p.a.
Solution:
Principal = $ 1500,
Interest = $ 450,
Rate = 5% p.a.
Time = (100 × Interest)/(Principal × Rate)
= (100 × 450)/(1500 × 5)
= 45000/7500
= 6.
Therefore, Time (T) = 6 years.
2. Find Time when, Principal = $ 2000; Interest = $ 600; Rate = 3% p.a.
Solution:
Principal = $ 2000,
Interest = $ 600,
Rate = 3% p.a.
Time = (100 × Interest)/(Principal × Rate)
= (100 × 600)/(2000 × 3)
= 60000/6000
= 10
Therefore, Time (T) = 10 years.
3. Find Time when, Principal = $ 3500; Interest = $ 700; Rate = 4% p.a.
Solution:
Principal = $ 3500,
Interest = $ 700,
Rate = 4% p.a.
Time = (100 × Interest)/(Principal × Rate)
= (100 × 700)/(3500 × 4)
= 70000/14000
= 5
Therefore, Time (T) = 5 years.