Question

Find the time a loan of 400 naira at an interest of 4% per anum, amount to 448 naira?

Answer 1

Answer:

e have principal =Rs.400

It will amount to Rs.448

since simple interest = Amount − principal  

                                  =448−400

                         S.I=Rs.48

Rate of interest =4% per annum

We knew S.I=  

100

P×R×T

​48=  100

400×4×T

​16T=48  T=3

So in 3 years the sum of Rs. 400 will amount to Rs. 448

Step-by-step explanation: