Question

Harley borrows £100 at a simple interest rate of 3% per year. The money is paid back after 3 years. What is the total amount paid back?

Answer 1

Answer:

£109

Step-by-step explanation:

Amount = Principal (1 + rt/100)

=> 100 (1 + 3*3/100)

=> 100 (1 + 9/100)

=> 100 + 900/100

=> £109

Answer 2

Sl formula is pxrxt/100

Now distribute and cancel and multiply it
Check this photo
Answer is 9

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