Question

£864.00 to be accrued after £800 is invested with 2% pa simple interest.

Answer 1

Answer: 4 years

Step-by-step explanation:

Your question isn't complete but I believe that you want to calculate the number of years. This will be:

Simple Interest = PRT/100

where,

Interest = 864 - 800 = 64

Principal = 800

Rate = 2%

Therefore, 64 = 800 × 2 × T /100

Cross multiply

64 × 100 = 1600T

6400 = 1600T

T = 6400/1600

T = 4

Therefore, time will be 4 years