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Interest (Simple) - Time from Interest, Principle, and Rate (Level 1)

This math topic focuses on calculating the time required to earn a certain amount of simple interest, given the principal amount and the rate. The problems involve using the simple interest formula to determine the number of years needed based on different financial scenarios. Each question includes a specific principal value, interest amount, and interest rate, asking for the time duration in years. The skills practiced include applying the simple interest formula, understanding percentages, and performing basic algebraic manipulations.

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Interest (Simple) - Time from Interest, Principle, and Rate

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What is the time in this simple interest situation?

\text{Principle } = 400\\ \text{Interest } = $40000\\ \text{Rate } = 20\%\\ \\ \text{Time } = ?\text{yrs}