John, who is 42 years old, has a nephew age 9. In how many years will the age of his nephew be one-fourth John's age. Solve alge
1 answer:
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Answer: $1100 will represent the amount after 2 years at the rate of 5%.
Step-by-step explanation:
Since we have given that
Principal amount = $1000
Rate of interest = 5%
Time period = 2 years
As we know the formula for "Simple Interest ":
And we know that
So, $1100 will represent the amount after 2 years at the rate of 5%.