Answer:
Step-by-step explanation:
The formula for determining simple interest is expressed as
I = PRT/100
Where
I represents interest paid on the amount invested.
P represents the principal or amount invested.
R represents interest rate
T represents the duration of the investment in years.
From the information given,
P = £2500
R = 5%
T = 2 years
I = (2500 × 5 × 2)/100 = $250
Therefore, the amount that Dan will have after 2 years is
250 + 2500 = £2750
Answer:
AMOUNT = £2,750.00
Dan will have £2,750 as a sum after 2 years.
Step-by-step explanation:
Amounts invested by Dan= £2500.
Rate of interest per year = 5%
Time (Duration of investment) = 2 years.
Simple Interest (I) = PRT/100.
P = Principal (That's the invested sum) = £2500
Rate = %age of compensation= 5%
Time = Duration of investment = 2 years.
Simple Interest :
= (£2500 * 5% * 2years) / 100
= £25 * 5 * 2
= £250.
That's that's simple Interest for the amount invested after 2 years.
But the question seek to know how much AMOUNT Dan will get after two years.
AMOUNT is the addition of the principal and the interest for a said duration.
AMOUNT = PRINCIPAL + INTEREST
AMOUNT = £2500 + £ 250
AMOUNT = £2,750
Dan will have £2,750 as a sum after 2 years.
