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There is £3000 in a account. The bank offers fixed 5% simple interest for 3 years. How much interest after 3 years?
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13 votes
There is £3000 in a account. The bank offers fixed 5% simple interest for 3 years. How much interest after 3 years?

User Alexander Dunaev
by
5.2k points

1 Answer

12 votes

Explanation:

Interest = P*R *T/100

3000*5*3/100

=450

3 years =450*3 = 1350

User Cabreracanal
by
5.4k points
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