Deepanshu R. answered • 09/19/21

Tell me I forget. Teach me I remember. Involve me and I learn!

To find S.I. (Simple Interest), we will use the following formula;

S.I. = (P * R * T)/100,

where, S.I. is $960,

P is the principal amount i.e. $3840,

R is the rate of interest i.e. 5% and

T is the time period, which we have to find.

960 = (3840 * 5 * T)/100

960 = 192 * T

T = 960/192

T = 5 months