Question

I=$450 P=$2400 R=7.5%

Answer 1

I = PRT.....rearrange = I / PR = T
I = 450
R = 7.5%...turn to decimal = 0.075
P = 2400

I / (PR) = T
450 / (2400 * 0.075) = T
450 / 180 = T
2.5 = T...so time is 2.5 years, or 2 1/2 years

Answer 2

time = 2.5 years.

Explanation:

Given : Interest =$450

Principal =$2400

Rate =7.5%

We have to calculate the time.

Since,

`Simple \ interest=(principal* rate * time)/(100)`

we have ,

Interest =$450

Principal =$2400

Rate =7.5%

Substitute, we get,

`450=(2400* 7.5 * time)/(100)`

Solve for time,

Multiply both side by 100, we have,

`450 * 100=2400* 7.5 * time`

Now divide by 2400 × 7.5 , we have,

`(450 * 100)/(2400* 7.5) =time`

Simplify, we have,

time = 2.5 years.