Question

£806 is put into a bank account which earns simple interest at 17.8% per annum. Find the amount of money in the account after 4 years.

Answer 1

Explanation:

✑
`\underline{ \underline{ \text{Given}}} :`

• Principal ( P ) = £ 806
• Rate ( R ) = 17.8 %
• Time ( T ) = 4 years

✏
`\underline{ \underline{ \text{To \: find}}} :`

• Total amount of money in the account

☞
`\underline{ \underline{ \text{Solution}}} :`

First , Finding the interest :

`\boxed{ \sf{Interest = (PTR)/(100)}}`

⇢
`\sf{ (806 * 4 * 17.8)/(100)}`

⇢
`\sf{ (57382.2)/(100)}`

⇢
`\sf{£ 573.872}`

Now , Finding the total amount :

`\boxed{ \sf{Amount = Principal + Interest}}`

⇢
`\sf{806 + 573.872}`

⇢
`\sf{ £ 1379.872}`

`\pink{ \boxed{ \boxed {\tt{Our \: final \: answer : \boxed{ \tt{ £ 1379.872}}}}}}`

Hope I helped ! ♡

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