Question

1. Arjun puts £750 into his savings account. The account earns 5% simple interest per annum. After 4 years, how much money will Arjun have in his savings account? £ 1. Connor invests £1500 of his money for 2 years at a simple interest rate of 10%. How much money will he get back in interest?

Answer 1

Answer:

1. 900

2. 350

Step-by-step explanation:

the formula,

A= P(1+rt)

A= final amount

P= starting amount

r= intrest rate

t= time

1. A=750(1+.05*4)

A=750(1.2)

A=900

2. A=1500(1+.1*2)

A=1500(1.1)

A=1650

But theyre

asking for how much intrest will they get back, so you subtract the new amount by the starting amount to find how much intrest was earned

1650-1500=350