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In what time will $400 amount to $512 if the simple interest is 14%?(find out how much interest the made first.)

User Jan Pisl
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1 Answer

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well, the principal amount ballooned from 400 to 512, so the interest is the added amount, namely 112 bucks.


\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&112\\ P=\textit{original amount deposited}\dotfill & \$400\\ r=rate\to 14\%\to (14)/(100)\dotfill &0.14\\ t=years \end{cases} \\\\\\ 112=(400)(0.14)t\implies \cfrac{112}{(400)(0.14)}=t\implies 2=t

User Arud Seka Berne S
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