MATHS

Asked by LaurenHi Lauren, So a) first: In 3 years there are a total of 12x3=36 months And 36x5.35=£192.60 Then b): The formula for simple interest is P(1+rt/100) where P is the principle (which we can think of as how much we started with), r is the interest rate (think r for rate!) and t is the length of time (in years) So that’s 2000(1+3x3/100)=2000(1.09) =2180 Meaning we gained £180 from scheme b) Hence scheme a) gives more interest. Hope that helps!

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