Question

Find the time during the which €3600 gives an interest of € 1080 at the rate 6% per annum

Answer 1

Answer:

5 years

Step-by-step explanation:

$interest = \frac{prt}{100}$

$1080 = \frac{3600 \times 6 \times t}{100}$

$\frac{1080 \times 100}{3600 \times 6} = t$

108000/21600 = t

time = 5 years