Question

Edin has £300 in his saving account.

his bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years.
how much interest will he have earned after 3 years?

Answer 1

They answer is 45, Hopes this helps

Answer 2

$45

Explanation:

300/100 = $3 = 1%

$3 x 5 = $15 = 5%

$15 x 3 years = $45