Answer:
22.5 years
Step-by-step explanation:
we know that
The simple interest formula is equal to
[tex]I=P(rt)[/tex]
where
I is the Final Interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
[tex]t=5\ years\\ P=Rs\ 60,000\\r=8\%=8/100=0.08[/tex]
substitute in the formula above
[tex]I=60,000(0.08*5)[/tex]
[tex]I=Rs\ 24,000[/tex]
Remember that
Krishna withdrew Rs 40000 and total interest
The remaining amount is
[tex]60,000+24,000-40,000-24,000=Rs\ 20,000[/tex]
Now
we have
[tex]t=?\ years\\ P=Rs\ 20,000\\I=\$28,000\\r=8\%=8/100=0.08[/tex]
substitute
[tex]28,000=20,000(0.08t)[/tex]
solve for t
[tex](0.08t)=28,000/20,000[/tex]
[tex](0.08t)=1.4[/tex]
[tex]t=17.5\ years[/tex]
From the beginning adds 5 years
[tex]17,5+5=22.5 \ years[/tex]
The time should he keep the remaining amount to get total interest will be 3 years.
To calculate how much we earn a thousand reais in the economy, we have to consider a return of 0.5%. With this rate, if you invest a thousand reais in savings, you will have about R$ 61.70 in a year. Currently, one thousand reais in savings yields R$5 per month.
So in this case, we have the information that:
The simple interest formula is equal to:
[tex]I=P(tr)[/tex]
where:
Making the percentage for the years:
[tex]\frac{6000*8*8}{100}=24000[/tex]
remaing internest, that can be find as:
[tex]28800-24000=4800[/tex]
if Si is the value above, that can be put in the formula:
[tex]si=p*t*r/100\\4800=2000*8*t/100=3years[/tex]
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