Question

Colin invests £2200 into his bank account. He receives 2.5% per year simple interest. How much will Colin have after 3 years?

Answer 1

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simple interest(S.I )=(pxrxt) /100

principle (p) =2200 Rs

rate of interest (r) =2.5percent

time (t) =3yrs

Simple Interest =2200x2.5x3/100

=165

simple interest for 1year =165

simple interst for 3years =165x3=495

:The amount get after 3yrs

:2200 +495=2695 Rs

The total amount for Colin have 2695 Rs

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Answer 2

Answer:

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