The simple interest equation that represent the situation is A = t/5
<h3>What is simple interest?</h3>
Simple Interest (S.I.) is the method of calculating the interest amount for a particular principal amount of money at some rate of interest. For example, when a person takes a loan of 500 dollars, at a rate of 10 per annum for two years, the person's interest for two years will be S.I. on the borrowed money.
Principal(P) borrowed = $2
Rate(R) in percentage = 10
time in years = t
Simple interest(A) = P X R X t / 100
A = 2 X 10 X t/ 100
After reducing 20/100 to the lowest term
A = t/5
In conclusion the simple interest(A) = t/5
Learn more about simple interest: brainly.com/question/20690803
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