Question

2. For a simple interest rate of 10%, p.a calculate the number of year's needed for an interest of $1149.60 to be earned on an investment of $2874​

Answer 1

r=10%

I=1149.60

P=2874

t=(I×100)/(p×r)

(1149.60×100)/(2874×10)

114960÷28740

4 years

Answer 2

given:

`r = 10\%`

`p = 2874`

`l = 1149.60`

to find:

the numbers of year's needed for the investment.

solution:

`t = (l * 100)/(p * r)`

`t = (1149.60 * 100)/(2874 * 10)`

`t = (114960)/(28740)`

`t = 4`

therefore, 4 years is needed for the investment.