Question

In what time will $200 amount to $270 at the rate of 5%p.a. Simple interest? ​

Answer 1

5 percent of 200 is 10 and 70/10 is 7. So after 7 years if your rate is anual rate

Answer 2

At an interest rate of 5% yearly it would take 7 years

Explanation:

5% of $200 is $10

%270 - $200 = $70

$70 / 10 = 7