Question

eden has £300 savings in his account. his bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years. how much interest will he have after 3 years

Answer 1

Answer:

45

Step-by-step explanation:

The simple interest formula is

I=p×r×t

I interest earned?

P principle 300

R interest rate 0.05

T time 3years

So

I=300×0.05×3

I=45

interest will he have earned in 3 years is 45

Answer 2

Answer:

45

Step-by-step explanation:

The simple interest formula is

I=p×r×t

I interest earned?

P principle 300

R interest rate 0.05

T time 3years

So

I=300×0.05×3

I=45

interest will he have earned in 3 years is 45