The company will earn a interest of 3,000 in 2 years.
Step-by-step explanation:
It is given that, the company invested 50,000 in a saving account.
The interest per year is 3%.
The relation between the number of years and the interest is given by the formula,
Interest = P×r×t / 100.
where,
- P is the principal amount.
- t is the number of years.
- r is the rate per year.
Now, to find the amount of interest the company will earn in 2 years is calculated by using the above simple interest formula.
Substitute, P= 50,000 and r = 3 and t = 2 years.
Interest, I = (50,000 × 2 × 3) / 100
⇒ 500 × 6
⇒ 3000
Therefore, the amount earned as a interest by the company in 2 years is 3,000.
