SOLUTION: The simple interest I varies jointly with the principal p, and time t. If the simple interest is $450 when the principal is $500 and the time is 6 years, find constant of variation

Question 1204638: The simple interest I varies jointly with the principal p, and time t. If the simple interest is $450 when the principal is $500 and the time is 6 years, find constant of variation (the rate) and the Interest when the principal is $800 and the time is 5 years.
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!

The simple interest I varies jointly with the principal p, and time t. If the simple interest is $450 when the principal is $500 and the time is 6 years, find constant of variation (the rate) and the Interest when the principal is $800 and the time is 5 years.

I= k*P*t
450= k*500*6
k= 450/(500*6)
k=0.15
I= 0.15*800*5
I=600
The interest when the principal is $800 and the time is 5 years would be $600.

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