Question

Brian invests £8200 into his bank account. He receives 6.0% per year simple interest. How much will Brian have after 2 years? Give your answer to the nearest penny where appropriate.

Answer 1

Step-by-step explanation:

interest for two yrs = 6*2= 12%

Amount = (100+12)% = 112%

100% = 8200

112% = 82*112

= 9184

Answer 2

Solution:-

Principal =£8200

Rate=6

Time=2

Simple interest=(P×R×T)/100

=(£8200×6×2)/100

=£82×12

=£984

Amount=Principal +interest

=£8200+£984

=£9184

Answer :Brian will have a total of £9184at the end of second year.