SOLUTION: Please help me with the homework. A man invests R1000 at a simple interest rate of 10% for a period of 3years 1.1. How much interest does this man get at the end of the first y

Question 1193431: Please help me with the homework.
A man invests R1000 at a simple interest rate of 10% for a period of 3years
1.1. How much interest does this man get at the end of the first year?
1.2. How much interest does he get at the end of the second year?
1.3. How much interest does he get at the end of the third year?
1.4. What is the total interest that is earned by two man at the end of the 3years?
Thanks very much in advance for your help.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
I=prt
=R1000*0.10*1=R100 the first year.
Since it is simple interest, it is the same the second and the third years.
That is a total of R300.
I=R1000*0.10*3=R300
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