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How long does it take a principal of RM 25000 at a simple interest rate of 5 percent to become RM 30000?
Wiki User
∙ 12y ago
4 time periods (eg 4 years if the 5% simple interest were added each year).
In simple interest, the interest is added, but attracts no interest itself (that is compound interest) - only the original value attracts the interest:
5% of RM 25000 = RM 1250 added each time
RM 30000 - RM 25000 = RM 5000
RM 5000 ÷ RM 1250 = 4 time periods
Wiki User
∙ 12y ago
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