How many years will it take a principal of $400 to generate simple interest of $112 at a rate of 14% per annum?​

Question

How many years will it take a principal of $400 to generate simple interest of $112 at a rate of 14% per annum?​

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Adalynn 45 mins 2021-09-15T10:43:03+00:00 2 Answers 0

Answers ( )

    0
    2021-09-15T10:44:04+00:00

    Answer:

    Step-by-step explanation:

    Simple interest means the increment is constant. 112 * .14 = 15.68

    How much do we need to increase by ?

    400-112= 288

    288/15.68 approx 18.4. Since we can’t have .4 of a year, it is 19 years.

    0
    2021-09-15T10:44:52+00:00

    Answer:

    Principle = $400

    Simple Interest = $112

    Rate of interest = 14%

    Amount =$512

    S.I =P*T*R/100

    112=400*T*14/100

    112=4*14*T

    112/56=T

    T =2

    T = 2 years

    Step-by-step explanation:

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