Question

how many years 3800 amount to 3860.80 at 4% per annum simple interest

Answer 1

A.T.Q

3860.80 = 3800(1+4/100)^n

3860.80 = 3800(26/25)^n

3860.80/3800 = (26/25)^n

Answer 2

I=PNR/100
3860.80=3800*N*4/100
386080/4*3800=N
25.4=N