Simple interesteasyFree question
Simple interest Numerical Reasoning Question
£3,500 at 3% simple interest for 2 years. How much interest is earned?
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Simple interest = principal × rate × years — the interest doesn't compound. The correct answer is £210. Traps to avoid: £105 comes from the "one year" error; £3,710 comes from the "total not interest" error; £420 comes from the "doubled" error; £213 comes from the "used compound" error.
The wrong answers here have names
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