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3 years ago

Becky invests £5000 for 2 years in a bank account.

Mathematics

1 answer:

Arte-miy333 [17]3 years ago

6 0

Answer:

£300

Step-by-step explanation:

We apply the formula for Simple Interest:

$I = \frac{P * R * T}{100}$

where P = Principal

R = Rate of interest

T = Time elapsed (in years)

We are given that P = £5000, R = 3%, T = 2 years

The interest after 2 years will be:

$I = \frac{5000 * 3 * 2}{100} \\\\\\I = \frac{30000}{100}$

I = £300

The interest Becky will get after 2 years will be £300.

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