Question

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

Answer 1

Answer:

time = 2.5 years.

Step-by-step explanation:

Given : Interest =$450

Principal =$2400  

Rate =7.5%

We have to calculate the time.

Since,

$Simple \ interest=\frac{principal\times rate \times time}{100}$

we have ,

Interest =$450

Principal =$2400  

Rate =7.5%

Substitute, we get,

$450=\frac{2400\times 7.5 \times time}{100}$

Solve for time,

Multiply both side by 100, we have,

$450 \times 100=2400\times 7.5 \times time$

Now divide by 2400 × 7.5 , we have,

$\frac{450 \times 100}{2400\times 7.5} =time$

Simplify, we have,

time = 2.5 years.

Answer 2

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