How much time with it take for 450 to yield 81 as interest at 4.5 per annum of simple interesst

Question

asked May 12, 2021 152k views

1 Answer

Daniel Haughton · Answer 1 · 2021-05-16T17:22:32+0000

Answer:

4 years

Explanation:

The formula for simple interest is useful here.

I = Prt

where P is the principal invested at rate r for t years.

Fill in the given values and solve for t:

81 = 450×0.045×t

81/20.25 = t = 4

It will take 4 years for 450 to yield 81.