Question

In how many years will the simple interest on a certain sum be 4.05 times the principal at 13.5% per annum

Answer 1

Answer:

t = 30 years                

Step-by-step explanation:

We are given that simple interest (I) will be 4.05 times the principal amount.

Let the principal amount(P) be x.

Then interest(I) = 4.05x

Rate  (R) = 4.05%

Time (t) = t

Using Simple interest formula,

I = $\frac{P*R*T}{100}$

4.05x = $\frac{x*13.5*t}{100}$

405x = 13.5xt

t = $\frac{405x}{13.5x}$

 = 30 years

Hence, it will take 30 years to simple interest to be 4.05 times the principal amount.

Answer 2

Answer:

answer is 30 years