Question

In what time will N400 amount to N512 if the simple interest is calculated at 14% per annum?

Answer 1

Answer:

64/7 years

9.143 years

Step-by-step explanation:

$Simple Interest = \\ \frac{Principal \times Rate \times Time}{100}$

$Time = \frac{simple \: interest \times 100}{Principal \times Rate}$

$Principal = 400 \\ Rate = 14 \\ Time = \\ simple \: interest = 512$

Input the values

$Time = \frac{512 \times 100}{400 \times 14} \\ Time = \frac{51200}{5600}$

$Time = \frac{64}{7} \\ Time = 9.142 \: years \\ best \: answer \: = \frac{64}{7} years$