Step 1: Understand the first-order response equation.
For a first-order system, the time required to reach a certain percentage of the steady-state value can be determined using the formula:
\[
\text{Percentage of steady-state} = 100 \left(1 - e^{-\frac{t}{\tau}}\right),
\]
where \( \tau \) is the time constant, and \( t \) is the time.
Step 2: Calculate the time to reach 95% steady-state.
We want to find the time \( t \) at which the instrument reaches 95% of its steady-state output. Setting the percentage equal to 95%, we have:
\[
95 = 100 \left( 1 - e^{-\frac{t}{40}} \right)
\]
Simplifying:
\[
0.95 = 1 - e^{-\frac{t}{40}},
\quad
e^{-\frac{t}{40}} = 0.05
\]
Taking the natural logarithm of both sides:
\[
-\frac{t}{40} = \ln(0.05),
\quad
t = -40 \times \ln(0.05)
\]
Using a calculator:
\[
t \approx 120 \, \text{seconds}
\]
Final Answer:
The instrument will reach 95% of its steady-state output in \( \boxed{120} \) seconds.