Question

If you invest R500 at a simple interest rate of 9% per annum for ten years,what is the total interest that you receive?

Answer 1

Answer:

950

Step-by-step explanation:

Principle =500

Rate =9%

Time =10 years

Simple Interest = (Principle × Rate × Time)÷100

So,

Simple Interest = 500×9×10

100

Simple Interest = 5×9×10

Simple Interest= 450

Total Amount received back = Principle + Simple Interest

= 500 + 450

=950

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