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21 February, 23:23

Billy invests £800 for 5 years in savings account By the end of the years he has received a total of £96 simple interest Work out the annual rate of simple interest

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  1. 22 February, 02:43
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    Answer: 2.4%

    Step-by-step explanation:

    SI = prt / 100

    96 = (800 x r x 5) / 100

    96 = 40r

    r = 96 / 40 = 2.4%
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