To find Time when Principal Interest and Rate are given

To find Time when Principal Interest and Rate are given the rules are.

Interest = (Principal × Rate × Time)/100

Time = (100 × Interest)/(Principal × Rate)

Examples to find Time (T) when Principal (P), Interest (I) and Rate (R) are given:

1. Find Time when, Principal = $ 1500; Interest = $ 450; Rate = 5% p.a.

Solution:

Principal = $ 1500,

Interest = $ 450,

Rate = 5% p.a.

Time = (100 × Interest)/(Principal × Rate)

= (100 × 450)/(1500 × 5)

= 45000/7500

= 6.

Therefore, Time (T) = 6 years.

2. Find Time when, Principal = $ 2000; Interest = $ 600; Rate = 3% p.a.

Solution:

Principal = $ 2000,

Interest = $ 600,

Rate = 3% p.a.

Time = (100 × Interest)/(Principal × Rate)

= (100 × 600)/(2000 × 3)

= 60000/6000

= 10

Therefore, Time (T) = 10 years.

3. Find Time when, Principal = $ 3500; Interest = $ 700; Rate = 4% p.a.

Solution:

Principal = $ 3500,

Interest = $ 700,

Rate = 4% p.a.

Time = (100 × Interest)/(Principal × Rate)

= (100 × 700)/(3500 × 4)

= 70000/14000

= 5

Therefore, Time (T) = 5 years.