Question

Dan invests £2500 into his bank account.
He receives 5% per year simple interest.
How much will Dan have after 2 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

Dan pays 3000 to the bank

Step-by-step explanation:

we know Simple intrest=P×T×R÷100

given,

P=2500

T=2

R=5% per year, so for 2 years it will be

R=10%

S. I=2500×2×10÷100

S. I=500

then, total amount will be

Principal amount+simple intrest

total amount=2500+500

=3000

Answer 2

Answer:

the correct answer is 2750

Step-by-step explanation: