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calculate how long it will take for investment of R4 000 at 3% per annum simple interest to earn an interest of R840

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To calculate the time it will take for an investment of R4,000 at a 3% per annum simple interest to earn an interest of R840, we can use the formula:

Interest = Principal * Rate * Time

R840 = R4,000 * 0.03 * Time

Simplifying the equation:

840 = 120 * Time

Dividing both sides of the equation by 120:

7 = Time

Therefore, it will take 7 years for the investment of R4,000 at 3% per annum simple interest to earn an interest of R840.
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