Question

Paula invests £4500 in a savings account

that pays n% simple interest per annum.
At the end of six years their is £5025 in
the account.
Find the value of n​

Answer 1

525 pounds

Explanation:

Answer 2

18.61

Explanation:

Principle = £4500

Time = 6yrs

Rate = n%

Simple interest = £5025

n = ?

We know,

SI =PTR/100

£5025 = £4500*6*n/100

£502500 = £27000*n

n = 18.61