28.07.2020

Billie invests £800 for 5 years in a Savings account. By the end of the 5 years he has received a total of £96 in a simple interest
Work out the rate of the simple interest

. 5

Faq

History
Step-by-step answer
P Answered by PhD

He gets £19.20 annually

Explanation:

Billy has received £96 pounds in 5 years. Tis question uses simple interest which is considerably easier that compound interest which changes. Now, you must divide £96 by 5 to get £19.20

This means he gets £19.20 annually

History
Step-by-step answer
P Answered by PhD

He gets £19.20 annually

Explanation:

Billy has received £96 pounds in 5 years. Tis question uses simple interest which is considerably easier that compound interest which changes. Now, you must divide £96 by 5 to get £19.20

This means he gets £19.20 annually

Mathematics
Step-by-step answer
P Answered by Master

2.4%

Step-by-step explanation:

800×5=4000

96÷4000=0.024

0.024×100=2.4%

Mathematics
Step-by-step answer
P Answered by PhD

2 2/5 % or 2.4%

Step-by-step explanation:

Rate R = 100 x I /P x T

Where

I = interest £96

P = principal £800

T = time 5 yrs

Therefore

R = 100 x 96 /800 x 5

Multiply through

= 9600/4000

Cancel out zeros, we’re left with

= 96/40

Divide both the numerator and denominator by 4

= 24/10

Divide both the numerator and denominator by 2

= 12/5

= 2 2/5 % or 2.4%

Mathematics
Step-by-step answer
P Answered by PhD

2.4%

Step-by-step explanation:

SI = prt / 100

96 = ( 800 x r x 5) / 100

96 = 40r

r = 96 / 40 = 2.4%

Mathematics
Step-by-step answer
P Answered by PhD

2.4%

Step-by-step explanation:

SI = prt / 100

96 = ( 800 x r x 5) / 100

96 = 40r

r = 96 / 40 = 2.4%

Mathematics
Step-by-step answer
P Answered by PhD

SI=(P*R*T)/100

P=2000

R=1.5

T=6

SI=(2000*1.5*6)/100

=(2000*9)/100

=180

Neil will earn interest of 180

Mathematics
Step-by-step answer
P Answered by PhD

Cost of 7 gallons=$24.50

Cost of 1 gallon=24.50/7=3.5

Cost of 15 gallons=15*3.5=52.5

Cost of 15 gallons will be $52.5

Mathematics
Step-by-step answer
P Answered by PhD

The solution is in the following image

The solution is in the following image

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