Question

Edin has £300 in his saving account. His bank offers him a fixed 5% intrest per annum ,for three years.How much interest will he have in three years

Answer 1

£45

Explanation:

Given data

P= £300

R=5%

T= 3 years

SI= PRT/100

substitute

SI= 300*5*3/100

SI=4500/100

SI= £45

Hence the interest is £45