Question

The principle is 300 and the rate is 3%and 4 years is the time what is the interest earned and the new balance

Answer 1

$\bf ~~~~~~ \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \ 300\\ r=rate\to 3\%\to \frac{3}{100}\to &0.03\\ t=years\to &4 \end{cases} \\\\\\ I=300\cdot 0.03\cdot 4$

the new balance is 300 + I.