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andre [41]
3 years ago
9

find how long it will take for an investment sum of $40000 to generate simple interest of $8000 at 5% per annum​

Mathematics
1 answer:
guapka [62]3 years ago
6 0

Answer:

It will take 4 years

Step-by-step explanation:

The formula of the simple interest is <em>I = Prt</em>, where

  • <em>P</em> is the investment
  • <em>r</em> is the annual rate in decimal
  • <em>t</em> is the time

∵ The investment is $40000

∴ <em>P</em> = 40000

∵ The simple interest is $8000

∴ <em>I </em>= 8000

∵ The rate of interest is 5%

∴ r = 5%

→ Change it to decimal by divide it by 100

∴ <em>r</em> = 5 ÷ 100 = 0.05

→ Substitute them in the formula above

∵ 8000 = 40000 × 0.05 × t

∴ 8000 = 2000t

→ Divide both sides by 2000

∴ 4 = t

∵ t is the time of investment

∴ It will take 4 years

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