Question

Faith invests £800 for 3 years in a bank account. The account pays simple interest at a rate of 0.4% per year Work out the total amount of interest Faith has got at the end of the 3 years.​

Answer 1

0.4% of 800 = 0.8 x 4 = 3.2

3.2 x 3 = 9.6

800 + 9.6 = £809.60