Question

Harry saved $100 each week for 8 weeks. He earned $48 on his savings of $800. What interest did Harry earn for every $100?

Answer 1

Explanation:

In this problem, we know that Harry saved $100 each week for 8 weeks. In other words, he saved a total amount of money:

$\text{Amount of money saved}=8\times 100=\ 800$

We know that he earned $48 on his savings of $800, so for every $100 the interest (I) he earns is:

$I=\frac{48}{8}=\ 6$

So, in conclusion Harry did earn $6 in interest for every $100