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Brian invests £2300 into his bank account. He receives 10% per year simple interest. How much will Brian have after 2 years? Give your answer to the nearest penny where appropriate.
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Brian invests £2300 into his bank account.

He receives 10% per year simple interest.
How much will Brian have after 2 years?
Give your answer to the nearest penny where appropriate.

User Argyle
by
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1 Answer

2 votes
2760

You work out the amount of interest Brian gets in one year by finding 10% of 2300 which is 230. You multiply this by the number of years (2) to get 460. You add 460 to 2300 to get 2760.
User Todd Mazierski
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