Question

Principal = 5300=5300 rupees

Answer 1

Answer:

Using the formula:

$A=P+I$

where

A is the total amount

P is the principal

I is the Simple Interest

As per the statement:

Principal(P) = 5300 rupees.

rate of interest(r) = 6.5% = 0.065

Total amount(A) = 6678 rupees.

Then using above formula we have;

$6678 = 5300+I$

Subtract 5300 both sides we get;

$1378 = I$

or

$I = \ 1378$

We have to find the time period.

Using formula of Simple interest:

$I = Prt$

where r is the rate of interest (in decimal)

here, r = 6.5% = 0.065

Substitute the given values top find t:

$1378 = 5300 \cdot 0.065 \cdot t$

⇒$1378 = 344.5t$

Divide both sides by 344.5 we have;

$4 = t$

Therefore, the time period t in years is 4 years