Answer: 24 years
Step-by-step explanation:
Based on the information given, we've been given,
Principal = #250
Interest = #120
Interest rate = 2%
Time = Unknown
Interest = PRT/100
120 = (250 × 2 × Time)
Cross multiply
120 × 100 = (250 × 2 × T)
12000 = 500T
Time = 12000/500
Time = 24
It will take 24 years.
