Answer:
9 years
Step-by-step explanation:
Simple interest for any amount p is given by
SI = P*R*T/100
where R is the rate of interest
T is the time period in years
given
P =$1500
R = 4%
T we have to find
SI = $540
Thus, putting the given value in SI = P*R*T/100
540 = 1500*4*T/100
T = 540*100/1500*4 = 9 years
Thus, It will take 9 years for Sam to earn $540
