Question

1.

Mrs Smith wants to deposit £2500 in a savings
account. How much interest would she get after
one year if the interest rate per annum was
(a) 1.8%, (b) 2.1% (c) 2.4%?​

Answer 1

See below

Explanation:

It is very simple, just multiply the principal amount by the interest rate:

a: 2500 x 0.018 = £45

b: 2500 x 0.021 = £52.50

c: 2500 x 0.024 = £60