30. Given problem : You deposited 2 000 dollars, then you will earn 6% simple interest.
Question: How long will it become 2 600 dollars.
Well, you didn’t mention if it’s an annual interest or monthly interest.
But let’s say that it’s a monthly interest, then let’s start solving:
=> 2000 Is the original amount + 6% interest
first month = 2000 * .06 = 120
=> 2000 + 120 = 2120
2nd month = 2120 *.06 = 127.2
=> 2120 + 127.2 = 2247.2
3rd month = 2247.2 *.06 = 134.832
=> 2247.2 + 134.832 = 2382.032
4th month = 2382.032 * .06 = 142.92192
=> 2382.032 + 142.92192 = 2524.95392
5th month = 2524.95392 * .06 = 151.497
=> 2524.95392 + 151.497 = 2676.45
Thus, on the fifth month she will earn this amount.
