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Paul deposited sh 50000 in a bank which offered a simple interest at a rate of 14% per annum. He withdrew all the money from...

Paul deposited sh 50000 in a bank which offered a simple interest at a rate of 14% per annum. He withdrew all the money from the bank after three years. How much did she withdraw?
A sh 21000
B sh 29000
C sh 7000
D sh 71000

Answers

The interest earned = p×r×t
Interest = 50000×14/100×3= sh 21000
The total money withdrawn is the principal amount + interest rate
Sh 50000+ sh 21000 = sh 71000
The answer is D

Dana05 answered the question on October 15, 2019 at 14:02

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