document.write( "Question 1194989: In how many years will ghana cedis 600.00 yield an interest of ghana cedis 150.00 at a rate of 5% per annum \n" ); document.write( "

Algebra.Com's Answer #827303 by ikleyn(52794) $\"\"$ $\"About$

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document.write( "Use the formula for simple interest  I = P*r*t.\r\n" );
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document.write( "Adopt it to your case\r\n" );
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document.write( "    150 = 600*0.05*t,\r\n" );
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document.write( "where \"t\" is the time in years.\r\n" );
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document.write( "From this equation, obtain the answer  t =  = 5 years.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "There is another way to solve it without using equations.\r
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document.write( "    At 5% annual interest, the principal of 600 units produces 600*0.05 = 6*5 = 30 units of interest each year.\r\n" );
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document.write( "    Hence, the interest of 150 units will be produced in  150/30 = 5 years.\r\n" );
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document.write( "    giving you the same answer.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved twice, by two different methods, for your better understanding.\r
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on simple interest accounts, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Simple interest percentage problems \r
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\n" ); document.write( "\n" ); document.write( "Learn the subject from there.\r
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