Question

Colin invests £2100 into his bank account. He receives 5% per year simple interest. How much will Colin have after 3 years? Give your answer to the nearest penny where appropriate.

Answer 1

Answer:£2415

Explanation:

2100x0.01= 21 = 1%

21x5= 105 = 5%

105x3= 315 = 5% for 3 years

2100+315=2415