Simple Intrest

[celest knoll]

Could someone guide me through the steps, and NOT give me the answers.

Colin invests £4000 into his bank acount
He recieves 5% per year simple interest
How much will Colin have after 3 years?

[hexed acorn]

First you have to find out what is 5% of 4000£

So you have to multiply 5 by 4000

And then divide the number by 100

5•4000=20,000divided by 100 is 200

Then you have to find out what will colin recieve after 3 years

[celest knoll]

ok hold on

[hexed acorn]

So that is 3•200=600(£)