Question

Ms.black paid $32 intrest at the rate of 8% on a loan of $200. For how long was the loan?

Answer 1

`\bf~~~~~~ \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\to &\$32\\ P=\textit{original amount deposited}\to& \$200\\ r=rate\to 8\%\to (8)/(100)\to &0.08\\ t=years \end{cases} \\\\\\ 32=200(0.08)t\implies \cfrac{32}{200(0.08)}=t`