Question

If you earned 1000 interest on a loan of 5200 at a yearly interest rate of 2.5, how many years was the loan for?

Answer 1

Answer:

$si = \frac{prt}{100 } \\ = \frac{5200 \times 2.5 \times t}{100} = 1000 \\ = \frac{12500 \times t}{100} = 1000 \\ = 125 \times t = 1000 \\ t = \frac{1000}{125 } = 8 \: years$