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Zac invests $3500 at 8% p.a. simple interest for a period of time, to produce $210 interest. For how long did he invest the money?

Please help me in the steps to finding the answer and also the solution. Thx

Respuesta :

Answer:

9 months

Step-by-step explanation:

simple interest ( I) is calculated as

I = [tex]\frac{PRT}{100}[/tex]

P is the principal, R the rate of interest and T the time in years

Here I = 210, P = 3500 and R = 8, thus

210 = [tex]\frac{3500(8)T}{100}[/tex] = 35 × 8T = 280T ( divide both sides by 280 )

0.75 = T

Thus T = 0.75 years = 9 months

The money was invested for 9 months

mhanifa

Answer:

9 months

Step-by-step explanation:

investment= 3500

interest rate= 8% PA simple

time= x years

Interest= $210

---------------

  • 3500*0.08*x=210
  • 280x=210
  • x=210/280=3/4 year

3/4 year= 3/4*12 month= 9 months

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