This appears to be a problem using the simple interest formula:

$I = P \cdot r \cdot t$

where:

• $I$ is the interest,
• $P$ is the principal,
• $r$ is the rate,
• $t$ is the time.

From the image:

$1540 = 6000 \cdot r \cdot t$

It seems like you're solving for $r$ (the rate) and $t$ (the time). In the steps shown, it looks like you made a calculation to isolate $r$:

$1540 = 6000 \cdot r \cdot t$ $1540 = 6000 \cdot 0.04 \cdot t$ $1540 = 240 \cdot t$ $t = \frac{1540}{240} = 6$

So, the time $t$ comes out to 6 years, and the rate $r = 4\%$. The calculation appears correct if the goal was to solve for the time $t$ in the interest formula, assuming that the rate $r$ is 4%.

Would you like further clarification or details?

Here are 5 follow-up questions you might consider:

1. How do you adjust the interest formula if it's compounded rather than simple interest?
2. What happens if the time $t$ is given in months instead of years?
3. How do you calculate the principal $P$ if the interest is known?
4. How would you change the formula if you had continuous compounding?
5. Can you calculate the interest for different rates or times using this formula?

Tip: Always ensure the units are consistent when applying formulas. In this case, if the time was given in months, you would need to adjust the formula accordingly.