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