Question 70

£1475 was invested for 5 years @ 4 % simple interest per annum. The interest accrued would be £ ............

Solution

$$S.I.=\ \frac{\ p\times\ r\times\ t}{100}$$

$$S.I.=\ \frac{\ 1475\times\ 5\times\ 4}{100}$$=295£

Hence option 'A' is correct.

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