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11 March, 17:26

Ethan invested £500 in the bank for 2 years.

he earned £40 simple interest in total.

what was the simple interest rate per annum

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  1. 11 March, 20:26
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    Step-by-step explanation:

    I=PRT/100

    40 = (500XRX2) / 100

    R = (40X100) / 500X2

    R=4000/1000

    R=4 percent/annum
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