Answer:
6 years
Step-by-step explanation:
Simple Interest Formula
A = P(1 + rt)
where:
Given:
Substitute the given values into the formula and solve for t:
[tex]\implies \sf A = P(1 + rt)[/tex]
[tex]\implies \sf 4040 = 2525(1 + 0.1t)[/tex]
[tex]\implies \sf \dfrac{4040}{2525} = \dfrac{2525(1 + 0.1t)}{2525}[/tex]
[tex]\implies \sf 1.6=1 + 0.1t[/tex]
[tex]\implies \sf 1.6-1=1 + 0.1t-1[/tex]
[tex]\implies \sf 0.6=0.1t[/tex]
[tex]\implies \sf 0.1t=0.6[/tex]
[tex]\implies \sf \dfrac{0.1t}{0.1}=\dfrac{0.6}{0.1}[/tex]
[tex]\implies \sf t=6[/tex]
Therefore, it will take 6 years for a sum of $2,525 to grow to $4,040 if it earns 10% simple interest per annum.
Learn more about simple interest here:
https://brainly.com/question/23861622
https://brainly.com/question/27743947
