Question

£2300 is invested for 4 years at 5% per year simple interest work out the total interest

Answer 1

Answer:

Interest = £ 460

Step-by-step explanation:

Interest = Prt

Principal = £ 2,300

Time = 4 years

Interest = 5% = 0.05

$i = 2300 \times 0.05 \times 4 \\ \implies \: interest = 460$