512$ − 400$ = 112$ 400$ 112$ ⋅ 100% = 0 , 28 ⋅ 100% = 28% 28 : 14 = 2 − ye a rs
512 − 400 = 112 400 112 ⋅ 100% = 4 112 % = 28% 28% : 14% = 2 A n s . 2 ye a rs
It will take 2 years for $400 to amount to $512 at a simple interest rate of 14% per annum.
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