Answered

£1500 is invested for 3 years at 2% per year simple interest. Work out the total interest.

Answer :

TAKAYASONAGO

2÷100=0.02

1500×0.02=30

30×3=90

Answer:

£90

Step-by-step explanation:

Simple interest (I ) is calculated as

I = [tex]\frac{PRT}{100}[/tex] ( P is principal, R is rate of interest and T time in years )

Here P = 1500, R = 2 and T = 3 , then

I = [tex]\frac{1500(2)(3)}{100}[/tex] = 15 × 2 × 3 = 30 × 3 = £90

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