Question

How ling it will take for an investment of 1950to accumulate to 2129.55at 6.5%pa simple interest

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &2129.55\\ P=\textit{original amount deposited}\to& \$1950\\ r=rate\to 6.5\%\to (6.5)/(100)\to &0.065\\ t=years \end{cases} \\\\\\ 2129.55=1950(1+0.065t)\implies \cfrac{2129.55}{1950}=1+0.065t \\\\\\ \cfrac{2129.55}{1950}-1=0.065t\implies \cfrac{(2129.55)/(1950)-1}{0.065}=t`