Question

£806 is put into a bank account which earns simple interest at 17.8% per annum. Find the amount of money in the account after 4 years.

Answer 1

Step-by-step explanation:

✑ $\underline{ \underline{ \text{Given}}} :$

• Principal ( P ) = £ 806
• Rate ( R ) = 17.8 %
• Time ( T ) = 4 years

✏ $\underline{ \underline{ \text{To \: find}}} :$

• Total amount of money in the account

☞ $\underline{ \underline{ \text{Solution}}} :$

First , Finding the interest :

$\boxed{ \sf{Interest = \frac{PTR}{100}}}$

⇢ $\sf{ \frac{806 \times 4 \times 17.8}{100}}$

⇢ $\sf{ \frac{57382.2}{100}}$

⇢ $\sf{£ 573.872}$

Now , Finding the total amount :

$\boxed{ \sf{Amount = Principal + Interest}}$

⇢ $\sf{806 + 573.872}$

⇢ $\sf{ £ 1379.872}$

$\pink{ \boxed{ \boxed {\tt{Our \: final \: answer : \boxed{ \tt{ £ 1379.872}}}}}}$

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