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19 February, 23:25

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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  1. 20 February, 00:20
    0
    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
  2. 20 February, 02:06
    0
    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.
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