Question

£2300 is invested for 4 years at 5% per year simple interest.

Work out the total interest.

Answer 1

Answer:

The total interest is £460.

Step-by-step explanation:

Formula

$Simple\ interest = \frac{Principle\times Rate\times Time}{100}$

As given

£2300 is invested for 4 years at 5% per year simple interest.

Principle = £2300

Rate = 5%

Time = 4 years

Put in the formula

$Simple\ interest = \frac{2300\times 5\times 4}{100}$

$Simple\ interest = \frac{46000}{100}$

Simple interest = £460

Therefore the total interest is £460.

Answer 2

Answer: £460

Step-by-step explanation:

Use this formula to find the total interest $I=\frac{P*R*T}{100}$

I stands for interest, P is principal, R is rate, and T is time.

Principle = £2300

Rate = 5%

Time = 4 years

$\frac{2,300*5*4}{100} =\frac{46,000}{100} =460$

Hope this helps, now you know the answer and how to do it. HAVE A BLESSED AND WONDERFUL DAY! :-)  

- Cutiepatutie ☺❀❤