Find the amount of time.

I=$30, P=$500, r=3%
The amount of time is
years.

The amount of time is 2 years.

Step-by-step explanation:

To find the time, we use the simple interest formula;

I = P × R × T   /  100

Where I is the interest  , P is the principal amount,   R is the rate, T is the time in years and I is the interest.

From the question given,

interest(I) = $30

principal  (p) =$500

Rate (R) = 3%

Time (T) is what we are asked too find.

We can now proceed to substitute the values into the formula;

I = P × R × T   /  100

$30 = $500×3×T  /  100

$30 = $1500 T  /  100

Multiply 100 to both-side of the equation

$30×100 =$ ×   100

$3000 = $1500 T

Divide both-side of the equation by $1500 to get the value of T

 =

2  = T

T = 2 years

Therefore the amount of time is 2 years.

add an image, and i will answer

step-by-step explanation: