in one year a sum of 4000 will earn rs 400 as interest at 10 percent pa
3
d 2.5 years
$450.
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
Assuming the interest is NOT compound - 3 years !
Assuming that the 10 % stated is per year, the investment will earn 0.10 X 20000 = 2000 per year. The years required to earn 4000 will be 4000/2000 = 2.
3
1 year
You could probably do this easier but this is how I would do it. .05*4000 = 200+4000 = 4200*.05 = 210+4200 = 4410*.05 = 220.5+4410 = 4630.5 So you will end up with $4,630.50 your welcome
215
It earns 431.0125 . After 4 years, it has grown to 2,431.01 .
2.5 years
d 2.5 years
About 7.6%
$5,249.54
10795
$450.