Question

rose has $500 in her savings account she earns simple interest at 5% per annum. calcutate the interest she earns after two year.​

Answer 1

$50

Explanation:

Interest = PRT/100

Principal P = $500

Rate R = 5%

Time T = 2years

Get the interest

Interest = 500*5*2/100

Interest = 5 * 5 * 2

Interest = $50

Hence the interest eaned after 2years is $50