eokoye112 eokoye112

09-06-2022
Mathematics

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how long will it take to sum of 6,000 naira to give an interest of 1500Naira at 5% rate

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hartjuliet78 hartjuliet78

09-06-2022

Answer:

5years

Step-by-step explanation:

Interest=Principal*Rate*Time/100 which is

I=P*R*T/100

1500=6000*5*T/100
1500=30000/100*T
1500=300T
1500/300=T
5=T

Therefore T which is Time=5 years.

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