Question

Hey Dear Moderates:}

In how many years will a sum of $ 800 yield an interest of $ 405 at 15% per annum.


No spam ❌
Quality Answer required ✔️​

Answer 1

Answer:

Simple interest and compound interest problems are very important in all entrance exams. When a person or bank lends money to a borrower, the borrower usually has to pay an extra amount of money to the lender. This extra money is called interest. Simple interest is based on the principal amount of a loan or deposit, while compound interest is the interest that is added to the principal at the end of the each period to arrive at the new principal for the next period. Under compound interest, the amount at the end of the first year will become principal for the second year; the amount at the end of the second year becomes the principal for the third year and so on.

Explanation:

Mark as brainlist I will follow you