4 years
[tex]per\ year\ earn:2000\times 5\%=100[/tex]
[tex]years\ needed:\ \ \ \ \ 400\div 100=4[/tex]
I hope this helps you
:)
Answer:
4 years
Step-by-step explanation:
Given data
Simple interest= $400
Principal= $2000
Rate= 5%
The simple interest formula is given as
SI=PRT/100
substitute and solve for T
400=2000*5*T/100
cross multiply
400*100= 10000*T
40000=10000T
T= 40000/10000
T= 4 years
Hence the time taken is 4 years
