If the simple interest for $6$ years be equal to $30\%$ of the principle, it will be equal to the principle after
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If the simple interest for $6$ years be equal to $30\%$ of the principle, it will be equal to the principle after
Simple interest I = P * R * T / 100. Given I = 0.3P for T = 6, 0.3P = P * R * 6 / 100, so R = 5%. To have interest equal to principal (I = P), P = P * 0.05 * T, so T = 1/0.05 = 20 years.
Using the simple interest formula, 0.30 times the principal equals (Principal x Rate x 6) / 100. This means the rate of interest is 5 percent. To find when the interest equals the principal, meaning the interest is 100 percent of the principal, the time is calculated as (100 x 100) / (Principal x Rate). Substituting the 5 percent rate gives 100 divided by 5, which equals 20 years.