Answer:
time = 2.5 years.
Step-by-step explanation:
Given : Interest =$450
Principal =$2400
Rate =7.5%
We have to calculate the time.
Since,
[tex]Simple \ interest=\frac{principal\times rate \times time}{100}[/tex]
we have ,
Interest =$450
Principal =$2400
Rate =7.5%
Substitute, we get,
[tex]450=\frac{2400\times 7.5 \times time}{100}[/tex]
Solve for time,
Multiply both side by 100, we have,
[tex]450 \times 100=2400\times 7.5 \times time[/tex]
Now divide by 2400 × 7.5 , we have,
[tex]\frac{450 \times 100}{2400\times 7.5} =time[/tex]
Simplify, we have,
time = 2.5 years.
