Answer:
Explanation:
Simple interest means the increment is constant. 112 * .14 = 15.68
How much do we need to increase by ?
400-112= 288
288/15.68 approx 18.4. Since we can't have .4 of a year, it is 19 years.
Principle = $400
Simple Interest = $112
Rate of interest = 14%
Amount =$512
S.I =P*T*R/100
112=400*T*14/100
112=4*14*T
112/56=T
T =2
T = 2 years
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