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Pranav took a loan of $1800 with a rate of simple interest that was 3 times the time period in years. At the end of the time period, Pranav paid a total interest of $216. What was the time period and rate of interest per annum? |
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Answer» P = 1800$ T = 3R SI = (P*T*R)/100 216 = (1800*3R*R)/100 216 = 18 * 3R * R 216/18 = 3*R^2 12 = 3* R^2 4 = R^2 R = SQRT(4) R = 2% T = 3R T = 3*2 T = 6 YEARS Rate of interest per annum = 2% Time period = 6 years. |
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