Question

ishmal invested £3500 for 3 years at 2.5% per annum simple interest. Work out the total amount of interest Ishmal earned.

Answer 1

Interest Earned is $262.5

Explanation:

Interest=PRT/100

When P=Principal, R=Rate, T=Time

Interest earn =( 3500 x 3 x 2.5)/ 100

I=$26,250 / 100

I=$262.5