Question

Brian invests £1300 into his bank account.
He receives 10% per year simple interest.
How much will Brian have after 3 years?
Give your answer to the nearest penny where appropriate.

Answer 1

AnswEr:-

Brian will have £1690 after 3 years.

$\rule{200}{1}$

Question :-

Brian invests £1300 into his bank account.He receives 10% per years simple interest.How much will Brian have after 3 years?

Give your answer to the nearest penny where appropriate.

$\rule{100}{2}$

[As the question didn't tell what to find.So we can find both simple interest and total amount ]

Given:-

• Principal (P) = £1300
• Rate of interest (r) = 10%
• Time(n) = 3 years.

To find :-

• Simple interest and total amount

Solution:-

⋆ INTEREST :-

As we know,

$\star\: \green{\boxed{\rm{\blue{Simple \: interest = \dfrac{P \times r \times n}{100} }}}}$

• Plugging values:-

$\nrightarrow\sf Simple\: interest = \dfrac{1300 \times 10 \times 3}{100} \\\\\nrightarrow\sf Simple\: interest = 13 \times 10 \times 3 \\\\\nrightarrow\large\underline{\boxed{\textbf{Simple \: interest = £390 }}}$

So,he will have £390 as simple interest.

$\rule{150}{1}$

⋆ TOTAL AMOUNT :-

↠ Total amount = Interest + Principal

↠ Total amount = £390 + £1300

↠ Total amount = £1690

So,Brian will have £1690 as total amount.

Answer 2

${\boxed{\boxed{\mathtt{Given}}}}$

$\mathtt{\implies\:Principal\: Amount\:=\:£\:1300}$

$\mathtt{\implies\:Rate \: Percentage\:=\: 10}$

$\mathtt{\implies\: Time\: Period\:=\:3\:years}$

${\boxed{\boxed{\mathtt{To\: Find}}}}$

$\mathtt{\implies\: Total\: amount \:that \:he \:will \:receive\: after\: 3\: years }$

${\boxed{\boxed{\mathtt{Solution}}}}$

${\boxed{\mathtt{\blue{Formula\: =\: \frac{Principal\times\:Rate\times\: Time}{100}}}}}$

$\mathtt{Applying\:the\: above\: mentioned\: Formula}$

$\mathtt{\implies\:Simple\: Interest\:=\: \frac{1300 \times 10 \times 3}{100}}$

$\mathtt{\implies \: S.I \:=\: \frac{ 39000}{100}}$

$\mathtt{\implies\:S.I\:=\: 390}$

$\mathtt{\implies\: Total \:Amount\: = \:Principal\: + \:S.I }$

$\mathtt{\implies\: 1300 + 390\:=\:1690}$

${\mathtt{\red{\implies\: Brian\: will\: receive\: Rs \:1690}}}$