Question

Brian invests £2300 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.​

Answer 1

$\huge\underline\mathbb{SOLUTION}$

$\bf{Given\::}$

P = £2300

R = 10%

T = 2 years

$\bf{Here,}$

P stands for Principal.

R stands for Rate of interest.

T stands for Time.

$\bf{To\:Find:}$

Simple interest (SI) and Total amount

$\bf{Explanation:}$

$\underline\mathfrak\pink{Formula\:Used\:Here\:-}$

Simple interest = P × R × T / 100

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\underline\mathfrak\purple{According\:to\:question,}$

↪ Simple Interest (SI) = (2300 × 10 × 2)/100

↪Simple Interest (SI) = 23 × 10 × 2

↪Here, Simple Interest (SI) = ₹ 460.

$\bf{Hence,}$

He will have interest = £460.

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

Total Amount = Principle + Interest

↪Total Amount = 2300 + 460

↪Total amount = £2760

$\bf{Hence,}$

He will have total amount = £2760.

Answer 2

Answer:

I guess it is right

Step-by-step explanation:

S.I= P x R x T/ 100

P= 2304

R= 10% p.a

T= 2 yrs

S.I= 2304 x 10 x 2/ 100

= 46.8

Total Amount= 2304 + 46.8=  2350.8