Umar invested RM50,000 in a bank with simple interest rate is 20% per annum, find the number of years required if Umar wants the amount in the account to become RM240,000.

Answer 1

so you want to collect 240K-50K = 190K in interest
20% of 50K is 10K per year
so it will take 190/10 = 19 years.