Math Problem Statement

The formula for simple interest is I, equals, P, r, t, commaI=Prt, where II is the interest earned, PP is the principal, rr is the interest rate and tt is the number of years. Solve the formula for tt in terms of P, commaP, II and r, .r.

Solution

To solve the simple interest formula I=PrtI = Prt for tt in terms of PP, II, and rr, follow these steps:

Given formula:

I=PrtI = Prt

Solve for tt:

  1. Divide both sides by PP and rr: t=IPrt = \frac{I}{Pr}

So the formula for tt in terms of II, PP, and rr is: t=IPrt = \frac{I}{Pr}

Final expression:

t=IPrt = \frac{I}{Pr}

Would you like any further details or explanations on this?

Related Questions:

  1. How would you use this formula to find the time if I=100I = 100, P=500P = 500, and r=0.05r = 0.05?
  2. What happens if the interest rate rr is given as a percentage instead of a decimal?
  3. Can this formula be rearranged to solve for PP, the principal?
  4. How does the formula change if the interest rate is compounded annually instead of simple interest?
  5. How can you apply this formula to find the interest earned over 3 years?

Tip:

Always convert percentage rates to decimals by dividing by 100 before applying them in formulas!

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Math Problem Analysis

Mathematical Concepts

Algebra
Simple Interest
Solving Equations

Formulas

I = Prt
t = I / (Pr)

Theorems

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Suitable Grade Level

Grades 7-10