[Question 10]
Two banks calculate the yearly interest they pay customers.
Westminster Bank
4% of the total that you invest
For example: Invest £700
Interest = 4% of £700.
Ashna has £500 to invest for one year.
Work out which bank will pay her more interest.
State how much extra interest she will earn.
District Bank
(4 marks]
1% of the first £300 that you invest and
6% of the amounts over £300 that you invest.
For example: Invest £700
Interest 1% of £300 + 6% of £400,