Question

Te: 11/05/2020

Answer 1

Answer:

Step-by-step explanation:

1) P = £ 250

r =2%

t = 1

I = Prt

$=250*\frac{2}{100}*1$

Interest = £ 5

2) P = £140

I = £ 4.20

t = 1

$4.20=140*\frac{r}{100}*1\\\\\frac{4.20*100}{140}=r\\\\r = 3$

r =3 %

3) P = £ 4000

t = 3 years

I = £ 1440

$1440=4000*\frac{r}{100}*3\\\\1440*\frac{100}{4000*3}=r\\\\r=12$

r = 12%

4) Amount=p*[1+(r/100)]^t

$=250*(1+\frac{9}{100})^{3}\\\\=250*(\frac{109}{100})^{3}\\\\=250*(1.09)^{3}$

= £323.76