Question

You put 500 in the bank it earns 1.5% simple interest for the next 3 years . if you don't deposit or withdraw any money in that time how much i s in your account at the end of 3 years

Answer 1

500 x 1.5% = 7.5
3 x 7.5 = 22.5
500 + 22.5 = 522.5

Answer 2

Step-by-step explanation:

P=500

R=1.5%

t=3 yrs

SI= (P×R×t)/100=(500×1.5×3)/100=22.5

amount=500+22.5=522.5