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Answer:
t =2 years
Step-by-step explanation:
P = 2400
Rate of interest = r = 5 %
I = Interest = 240
Prt = I
[tex]\dfrac{2400*5*t}{100}=240\\\\\\24*5*t=240\\\\t= \dfrac{240}{24*5}\\\\[/tex]
t = 2 years