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Hi I have a question how do I do this questionFind the time (In years) given the simple interest earned is $378 the principal is $450 and interest rate is 12%

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Given:-

The simple interest earned is $378 the principal is $450 and interest rate is 12%.

To find:-

The time.

So the formula is,


Time=\frac{100* Intrest}{Pri\text{ ncipal}* Rate}

Substituting the value we get,


T=(100*378)/(450*12)

So by simplifying we get,


\begin{gathered} T=(37800)/(450*12) \\ T=(37800)/(5400) \\ T=7 \end{gathered}

So the required solution is 7 years.

User Lashawn
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