Question

Brian invests £8200 into his bank account.

He receives 6.0% per year simple interest.
How much will Brian have after 2 years?
Give your answer to the nearest penny where appropriate.

Answer 1

£9184

Explanation:

Interest = PRT/100

P = Price

R = Rate

T = time

First Let's find the interest for 2 years

`interest = (8200 * 6 * 2)/(100) \\ = 984`

So, the interest is £984

Now let's find the full amount he received after two years ,

`8200 + 984 = 9184`

Total Amount = £9184

Hope this helps you

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