Question

£2300 is invested for 4 years at 5%

Answer 1

£460

Step-by-step explanation:

Simple interest =PRT/100

Where P = principal

R= rate

T = Time

Given

P= £2300

T= 4yrs

R = 5%

Interest = 2300 x 5 x 4/100

Interest = 46000/100

Interest = £460