Question

ryan deposited $2000 in a saving account at the interest rate of 4% per year how much simple interest will he earn in 5 years?

Answer 1

Answer:

SI = $400

Step-by-step explanation:

Simple Interest = Principal x Rate or interest x time

= $2000 x 4 x 5 / 100

= SI is $400

Answer 2

Answer:

$\huge\bf\underline{\underline{SOLUTION}}$

• GIVEN ↓

Principal=$2000

Rate of interest=4% per annum

Time=5 years

simple intrest = principal × rate × $\frac{time}{100}$

$= 2000 \times 4 \times \frac{5}{100} \\ = 20\cancel0\cancel0 \times 4 \times \frac{5}{1\cancel0\cancel0} \\ = 20 \times 4 \times 5 \\ = 400 \: dollar$

therefore the simple interest = $400

$\mathtt{{\colorbox{silver}{hope this will help you~~~}}}$