Brian invests £1700 into his bank account.
He receives 10% per year simple interest.
How much will Brian have after 2 years?
Give your answer to the nearest penny where appropriate.
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Answer:
£2040
Step-by-step explanation:
Principal = £1700
Rate of interest = 10% p.a.
Time = 2years
S.I. = prt/100
= 1700*10*2/100 = £340
Amount he will get after 2 years at 10%p.a. of sum of money of £1700 = principal + S.I. = £1700 + £340 = £2040
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