Answer:
4.2
Step-by-step explanation:
simplify 12 and 20 to 6 and 10 then divide 6 by 10 and multiply by 7 to get the answer.
U just have to find original amount (100%) and that is the amount he made last week.
In this sum we will calculate using the simple interest.
Simple interest is calculated from the formula :
I = PRT
where I is the interest, P is the principal, R is interest rate per year and t is time in years.
I = 2000 × 3 % x 2
We have to turn 3% to its decimal fraction which is 0.03, so:
I = 2000 × 0.03 × 2
I = 60 × 2
I = 120
Therefore the interest earned in two years will amount to 120 $
