Question

The formula for the amount with simple interest is A = P(1 + rt). Find t if A = 168, P = 150, and r = 0.08.
A. 1.5
B. 2
C. 2.4
D. 3

Answer 1

A = P(1+rt)
=> 1+rt = A/P
=> rt = A/P - 1
=> t = (A/P - 1)/r

Answer 2

Now, it is a simply matter of plugging in the values.