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Fudgin [204]
3 years ago
12

HELP!!

Mathematics
2 answers:
oksian1 [2.3K]3 years ago
7 0
I=prt,,60=400*0.05t,,t=3 ..................
Tresset [83]3 years ago
5 0

Answer:  The correct option is (B) 3.

Step-by-step explanation:  Given that Lily  just paid off a $400 loan. She had to pay $60 in interest at a simple annual interest rate of 5%.

We are to find the number of years for which Lily had this loan.

Let n be the required number of years.

Also, P = $400, S.I. = $60 and r% = 5%.

Therefore, by the formula of simple interest, we have

S.I.=\dfrac{Prn}{100}\\\\\\\Rightarrow 60=\dfrac{400\times5\times n}{100}\\\\\\\Rightarrow n=\dfrac{60}{20}\\\\\\\Rightarrow n=3.

Thus, the required number of years is 3.

Option (B) is CORRECT.

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