Tk. 1400 is lent out at 5% per annum simple interest for 4 years. Find the amount after 4 years.

Question: Tk. 1400 is lent out at 5% per annum simple interest for 4 years. Find the amount after 4 years.

Solution:
We know,
A = p(1 + nr)
= 1400 {1 + (4 × 5)/100}
= 1400 × (120/100)
= 1680