How long will it take for R6 000 invested at $$ 6 \% $$ per annum simple inte jrow to R8 520? (Use the formula $$ 51=\frac{P r t}{100} $$ )

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To find out how long it will take for an investment of R6,000 to grow to R8,520 at a simple interest rate of 6% per annum, we can use the formula for simple interest:

$$
I = \frac{P \cdot r \cdot t}{100}
$$

Where:
- $$ I $$ is the interest earned,
- $$ P $$ is the principal amount (initial investment),
- $$ r $$ is the rate of interest per annum,
- $$ t $$ is the time in years.

First, we need to calculate the interest earned ($$ I $$) when the investment grows from R6,000 to R8,520:

$$
I = 8520 - 6000 = 2520
$$

Now we can substitute the values into the simple interest formula:

$$
2520 = \frac{6000 \cdot 6 \cdot t}{100}
$$

To simplify, we can multiply both sides by 100:

$$
252000 = 6000 \cdot 6 \cdot t
$$

Calculating $$ 6000 \cdot 6 $$:

$$
6000 \cdot 6 = 36000
$$

Now we have:

$$
252000 = 36000 \cdot t
$$

To find $$ t $$, divide both sides by 36000:

$$
t = \frac{252000}{36000}
$$

Calculating the right side:

$$
t = 7
$$

Thus, it will take **7 years** for R6,000 to grow to R8,520 at a simple interest rate of 6% per annum.
It will take 7 years for R6,000 to grow to R8,520 at a 6% simple interest rate.

How long will it take for R6 000 invested at \( 6 \% \) per annum simple inte jrow to R8 520? (Use the formula \( 51=\frac{P r t}{100} \) )

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