Asked by kelvin

Mr. Ismail invested sh. 36,000 in the bank which gives an interest of 20% per year. After how long will he get sh. 43,200?

#please people help me this question how to arrive to final answer. Also i need to know if sh. 43,200 is either the total amount of money (P+I) or the interest given by the bank with reasons.
Thank you for your cooperation#
Answered by Ms. Sue
Interest = principal times rate times time

43,000 = 36,000 * 0.2 * t

Solve for t.

Answered by kelvin
This approach gives the answer in fraction, but the answer from book is 1 year.
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