Answered

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( BRAINLIEST QUEATION)
A bank offers 2% simple interest per year. A woman opens an account with deposit of 900 pounds. She closes the account 2 years later. How much will she withdraw.

Sagot :

novainmars

simple interest formulae = PRT/100

where

p stands for percentage (2%)

r stands for rate ( 900)

t stands for time (2 years )

2×900×2/100

=3600/100

=36

ItzMeÆXO

Deposit interest

  • Level : SHS
  • Keyword : deposit interest, simple interest

Deposit Interest in 2 years

= D × i × T/365 days

= 900 pounds × 2% × (365 × 2 years)/365 days

= 900 pounds × 0.02 × 730 days/465 days

= 900 pounds × 0.02 × 2

= 36 pounds

Her Deposit in 2 years

= 900 pounds + 36 pounds

= 936 pounds

So, her deposit if she will withdraw is 936 pounds

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