Ask Question
31 July, 14:32

Billy invests £800 for 5 years in a savings account.

By the end of the 5 years he has received a total of £96 simple interest.

Work out the annual rate of simple interest.

+5
Answers (1)
  1. 31 July, 17:56
    0
    Answer:24

    Step-by-step explanation:

    First solve:

    800*5 = 4,000

    Then:

    96 divided by 4,000 = 0.024

    0.024 in percent = 24%

    Thus, 24% will be your answer
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Billy invests £800 for 5 years in a savings account. By the end of the 5 years he has received a total of £96 simple interest. Work out the ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers