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23 September, 06:52

Paula invests £4500 in a savings account

that pays n% simple interest per annum.

At the end of six years their is £5025 in

the account.

Find the value of n

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Answers (1)
  1. 23 September, 07:12
    0
    18.61

    Step-by-step explanation:

    Principle = £4500

    Time = 6yrs

    Rate = n%

    Simple interest = £5025

    n = ?

    We know,

    SI = PTR/100

    £5025 = £4500*6*n/100

    £502500 = £27000*n

    n = 18.61
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