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Answer:
4 years
Explanation:
[tex]\sf simple \ interest :\dfrac{P * R *T}{100}[/tex]
[tex]\hookrightarrow \sf \dfrac{5000*3*t}{100} = 600[/tex]
[tex]\hookrightarrow \sf {15000*t} = 600(100)[/tex]
[tex]\hookrightarrow \sf t = \dfrac{60000}{15000}[/tex]
[tex]\hookrightarrow \sf t = 4[/tex]
Answer:
The time will be 4 years .
Step-by-step explanation:
Given :
Simple Interest = $600
Principle = $5,000
Rate = 3%
Time = ?
Formula for Simple Interest = P×R×T / 100
=> 5,000 × 3 × T / 100 = 600
=> T = 60,000 / 5,000×3
=> T = 60,000/15000
=> T = 4 years