## 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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## Answers ( )

Answer:Step-by-step explanation:Simple interest means the increment is constant. 112 * .14 = 15.68How much do we need to increase by ?400-112= 288288/15.68 approx 18.4. Since we can’t have .4 of a year, it is 19 years.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: