Answer: I = 1500 t
Where, I = interest, t = time(in years)
Step-by-step explanation:
Here, the principal amount, P = 50000,
Annual rate of interest, r = 3 %
Let the total interest after t years is I,
So, by the simple interest formula,
[tex]I = \frac{P\times r\times t}{100}[/tex]
[tex]I=\frac{50000\times 3\times t}{100}[/tex]
[tex]I=1500t[/tex]
Since, In the above equation,
The interest and time are directly proportional to each other,
Hence, the above equation is the direct proportion equation that relates interests and years.
