Question

In what time will the simple interest on $ 9500 be $ 2992.50 at the rate of 9% per annum?

Answer 1

P=$9500
SI=$2992.5
R=9%p.a.

Therefore, T= (SI×100)/(P×R)
T=(2992.5 ×100)/(9500×9)
T= 299250/85500
T=3.5 yrs.
T= 3 yrs. 6 months

HOPE THIS HELPS! :)