How long must $1,000 be invested at an annual interest rate of 3% to earn $300 in simple interest?

In this question, we have to find how long will it take  by investing  $1000, with interest rate of 3% and to get  $300  as interest.

And for that we have to use the simple interest formula, with P as the principal, r is the rate and t is the time. And the formula is

Substituting the values of P , r and t , we will get

Now we need to isolate t, and for that, we divide both sides by 30, that is

answer: you will have more water.