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2 years ago

if £5000 Is placed into a bank account that pays 2% compound interest per year, how much will be in the account after two years

Mathematics

1 answer:

timurjin [86]2 years ago

5 0

Answer:

£5200

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 2%/100 = 0.02 per year,

then, solving our equation

I = 5000 × 0.02 × 2 = 200

I = £ 200.00

The simple interest accumulated

on a principal of £ 5,000.00

at a rate of 2% per year

for 2 years is £ 200.00.

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<u>Solution:</u>

Given, Getting home from trick or treat celia and emma counted their candies. Half of celias candies is equal to 2/3 of emmas candies.

They had a total of 105 candies altogether.

We have to find how many candies did each of them have.

Let the number of candies with celias be n, then number of candies with emma will be 105 – n.

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$\begin{array}{l}{\frac{1}{2} \times \text { celias candies count }=\frac{2}{3} \times \text { emmas candies count }} \\\\ {\rightarrow \frac{1}{2} \times n=\frac{2}{3} \times(105-n)} \\\\ {\rightarrow 3 \times n=2 \times 2 \times(105-n)} \\\\ {\rightarrow 3 \times n=2 \times 2 \times(105-n)} \\\\ {\rightarrow 3 n=4(105-n)} \\\\ {\quad \rightarrow 3 n=420-4 n} \\\\ {\rightarrow 3 n=420-4 n} \\\\ {\rightarrow 3 n+4 n=420} \\\\ {\rightarrow 7 n=7 \times 60} \\\\ {\rightarrow n=60}\end{array}$

Hence, candies with celias and emmas is 60 and 45 respectively.

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if £5000 Is placed into a bank account that pays 2% compound interest per year￼, how much will be in the account after two years

if £5000 Is placed into a bank account that pays 2% compound interest per year, how much will be in the account after two years