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Popular Word Problems >

Find the simple interest when 500 is invested at 5% for 2 years

Solution

solve for

t h e s im pl e in t eres t w h e n 500 i s in v es t e d a t 5% f or 2 ye a rs

Solution

Interest : 50

Solution steps

Translate the problem into an equation:

I = 500 \cdot 0.05 \cdot 2

Simplify

I = 500 \cdot 0.05 \cdot 2

Interest : 50

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