Question

Jasmin invests ₱8,000 in a simple interest account which pays 8% for 3 years. What is her total investment return at the end of the 3 years?

Answer 1

Answer:

9920 pounds

Step-by-step explanation:

since the formula to find simple interest is-( principal * rate of interest*time)/100.

here principal  amount is 8000 pounds

rate of interest is 8%

time is 3 years

so simple interest = (8000*8*3)/100

=1920000/100

=1920 pounds(interest)

to find the amount = principal + interest

=8000+1920

=9920 pounds

hence the total investment return at the end of the 3 years is 9920 pounds