In what time will $400 amount to $512 if the simple interest is calculated at 14% p. a.

The time is 2 years:

Important variables to know:

A = Amount

P = Principal

I = simple Interest

T = time in years

R = rate in years

Formulas:

A = P + I

I = PRT

What we have? Amount ($512), Principal ($400), Rate (14%)

What we need? Time and Interest (simple interest)

So, first let's find the interest.

512 = 400 + I

Subtract 400 from both sides.

I = 112

Then plug that into the second formula:

112 = 400*.14 (T)

Multiply 400*.14 = 56

112 = 56T

Divide both sides by 56

T = 2 years