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Secondary 1 | Maths
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This is a rate question
= 2/100 x $2500
= $50
Since interest is withdrawn every year, it is not compounded. So interest is calculated on the principal sum of $2500 every year.
So for 3 years,
3 x $50 = $150
b)
Interest earned in 1 year by Rohanna
= 8000 x 2/100
= $160
To earn $720,
$720 ÷ $160
= 4.5
She should leave it for 4.5 years
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