Brian invests £1800 into his bank account. He receives 5% per year simple interest. How much will Brian have after 3 years? Give your answer to the nearest penny where appropriate.
Answers
Answered by
4
Answer:
Money invested :- £1800
Rate :- 5% per annum
Time:- 6 years
Simple Interest :-(P*R*T)/100
= (1800*5*6)/100 = 18*5*6 = £540
Amount = Principal + Simple interest
Amount = £1800+£540= £2340 is the answer
Answered by
10
Answer:
£2070
Step-by-step explanation:
Sum- £1800
Interest rate- 5% PA simple
Interest duration- 3 years
Sum at the end of 3 years- ?
£1800*(100+5*3)/100= £2070
Answer is £2070
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