466,014 views
42 votes
42 votes
Harry invests £5000 for 3 years.

He gets simple interest of 4% per year.
Work out the total interest Harry gets.

User Stefan Arn
by
2.9k points

1 Answer

19 votes
19 votes

Answer:

600

Explanation:

Harry invests £5000 for 3 years.

He gets a simple interest of 4% per year.

Work out the total interest Harry gets.

Solution

The formula for simple interest

S.I = P*R*T/100

Where P = Principal = £5000

R = Rate = 4%

T = Time = 3 years

£ 5000 * 4 * 3 /100

50 * 4 * 3

£ 600.

Harry invests £5000 for 3 years. He gets simple interest of 4% per year. Work out-example-1
User Gioravered
by
3.1k points