Olivia opened an account with £750 at the Maths Watch Bank. After one year, the bank paid her interest. She then had £795 in her account. What is Maths Watch Bank's interest rate?

1 Answer
Richard G.
Mar 13, 2018

6% per year6%peryear

Explanation:

Interest is added to the original sum, so Olivia gained £795-£750=£45 for the year.

When compared to the original amount and turned to a percent,
she gets (£45)/(£750)*100%=0.06*100%=6%

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