Question

Brian invests £990 into his bank account. He receives 2% per year simple interest.
How much will Brian have after 4 years? Give your answer to the nearest penny where
appropriate.

Answer 1

Answer

£79.2

Step-by-step explanation:

Brian's investment = £990

Percentage of simple interest received per year = 2%

Simple interest in 4 yeare will now be 2/100×990

$0.02 \times 990 = 19.8$

Therefore in one year Brian earns £19.8

in 4 years Brian will earn 4years×£19.8 = £79.2