Question

Help please with question 3

Answer 1

The option B is the correct answer which is the $3000 account will earn three times more than the $1000 account.

Explanation:

The interest rate is amount of interest due per period. and it is in the form of percentage.

For example if the interest rate on both accounts is 10%. Then the total earning from first account will be $300 and earning from the second account will be $100.

Now the earning from account of $3000 is 3 times more than the earning fro the account of $1000.

$300 = 3($100)

Hence proved that the $3000 account will earn three times more than the $1000 account.

Answer 2

Investment made in one of the account is $1000 and investment made in other account is $3000.

Further, it is given that interest rate in both the accounts is same and the period for which the amount is invested is also same.

Interest = Principal * Rate * Time /100

So in case of 1st account,

Interest = 1000 * Rate * Time/100

and for the second account,

Interest = 3000* Rate * Time /100

So, comparing above two interest, it is evident that $3000 account will earn three times the amount of interest.

Hope it helps.

Thank you ..!!