How long has Jay-R invested ₱15,000 at 8% per annum interest to earn ₱6,000 interest?
*

1 point

5 years

8years

7years

6years

To find out how long Jay-R has invested his money, we can use the formula for simple interest:

\[
I = P \times r \times t
\]

where:
- \( I \) is the interest earned (₱6,000),
- \( P \) is the principal or initial amount invested (₱15,000),
- \( r \) is the interest rate per year (8%, or 0.08),
- \( t \) is the time in years (which we need to find).

Rearranging the formula to solve for \( t \):

\[
t = \frac{I}{P \times r}
\]

Plugging in the values:

\[
t = \frac{6000}{15000 \times 0.08} = \frac{6000}{1200} = 5 \text{ years}
\]

So, the correct answer is:

**5 years**

Would you like further explanation or have any questions?

---

**Related Questions:**
1. What would be the interest earned if Jay-R invested ₱15,000 at 8% for 7 years?
2. If Jay-R wanted to earn ₱10,000 in interest, how long should he invest at 8% per annum?
3. What principal amount would Jay-R need to invest to earn ₱6,000 interest in 4 years at 8% per annum?
4. How much interest would be earned in 5 years if the interest rate were 10%?
5. If Jay-R’s investment was compounded annually instead of simple interest, how would his earnings change?

**Tip:** Remember that for simple interest calculations, time and rate directly affect the interest earned.

How long has Jay-R invested ₱15,000 at 8% per annum interest to earn ₱6,000 interest?

Discover how to determine the investment duration needed for Jay-R to earn ₱6,000 interest on a ₱15,000 principal at an 8% annual rate. This problem utilizes simple interest concepts and algebra, ideal for students in Grades 7-9.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation