Answer:
41 years approx
Step-by-step explanation:
Given data
P= £3000
R=3%
Simple Interest= £3720
Time=???
We know that from the simple interest expression
SI= PRT/100
substitute
3720= 3000*3*T/100
Make T subject of the formula
T= 3720*100/3000*3
T= 372000/9000
T= 41.33
Hence the number of years is 41 years approx
