Question

If 200,000 is saved at simple interest of 5%per annum,calculate the total amount after 4years

Answer 1

Answer:

$240000

Step-by-step explanation:

$p = 200000$

$t = 4$

$r = 5 \: percent\: per \: anum$

$si = \frac{p \times r \times t}{100}$

$= \frac{200000 \times 5 \times 4}{100}$

$= 2000 \times 5 \times 4$

$= 2000 \times 20$

$= 40000$

$amount = si + principle$

$= 200000 + 40000 = 240000$

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Answer 2

The total amount after 4 years is $240,000

What is the total amount?

Simple interest rate is the interest that is paid only on the principal portion of a the amount that is saved.

Total amount = principal + interest

Interest = principal x time x interest rate

200,000 x 0.05 x 4 = $40,000

Total amount = 200,000 + 40,000 = $240,000

To learn more about interest, please check: https://brainly.com/question/26367706