Percentage change

Ethan invested £500 in the bank for 2 years.
He earned £40 simple interest in total.
What was the simple interest rate per annum?

  1. 👍
  2. 👎
  3. 👁
  1. 1/2 * 40/500 = 0.04 = 4%

    1. 👍
    2. 👎
    👤
    oobleck
  2. Ethan invested £500 in the bank for 2 years. He earned £40 simple interest in total. What was the simple interest rate per annum?

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math help! Check my answers ASAP!

    1. Which graph most likely describes the distance a person walks in a 24-hour period? (1 point) a. Graph IV** b. Graph II c. Graph I d. Graph III 2. A car traveling at 25 mi/h accelerates to 48 mi/h over the first 5 seconds. It

  2. algebra

    A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is $1,180, how much of the $12,000 is invested at each rate? We have two unknowns: the amount of money invested at 9% and the

  3. Finance

    First Simple Bank pays 6 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. Required: What rate should the bank set if it wants to match First Simple Bank over

  4. Algebra

    Katie invested a total of $7,000, part at 2% simple interest, and part at 3% simple interest. At the end of 1 year, the investments earned, $184.00 interest. How much was invested at each rate?

  1. math

    Katie invested a total of ​$6000 ​, part at 3 ​% simple interest and part at 4 ​% simple interest. At the end of 1​ year, the investments had earned ​$214 interest. How much was invested at each​ rate?

  2. Math

    For a given interest rate, simple interest varies jointly as the principal and time. If $3000 left in an account for 6 years earned interest of $1260, then how much interest would be earned in 7 years?

  3. math ( grade 6 )

    review my answers and please tell me if i got them right or wrong and if I get any wrong please explain the answer to me Donna deposits $275 into her savings account. she leaves the money in her account, untouched, for 6 years. if

  4. Calculus Please help!

    If 7000 dollars is invested in a bank account at an interest rate of 7 per cent per year. A) Find the amount in the bank after 6 years if interest is compounded annually? B) Find the amount in the bank after 6 years if interest is

  1. Maths

    Mrs Ricky borrowed $5,340 at a bank at 9.5% per annum simple interest for 5 years. (A) the sum of money paid in interest to the bank. (B) the total amount of money repaid to the bank. (C) the value of each monthly installment.

  2. Math

    If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is

  3. College alerbra

    Scott invested a total of $9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $973.00 in interest during a single year, how much

  4. Math

    Larry Mitchell invested part of his $27,000 advance at 5% annual simple interest and the rest at 2% annual simple interest. If his total yearly interest from both accounts was $720​, find the amount invested at each rate

You can view more similar questions or ask a new question.