2 years ago

A sum amount to $2400 at 15% simple interest per annum after 4 years. Find the sum

Mathematics

1 answer:

Sergio039 [100]2 years ago

4 0

Answer:

1500

Step-by-step explanation:

We can required to find the sum which also means the value

Future value= value × [ 1 + rate×time]

2400= value × [1 + 15/100×4]

2400= value × [1 + 0.15×4]

2400= value × [1+0.6]

2400= value × 1.6

Value= 2400/1.6

= 1500

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