Question

2000 for 3 weeks at 1 naira in each 10 naira interest per week

Answer 1

To calculate the total interest earned on an investment of 2000 naira over 3 weeks at an interest rate of 1 naira for every 10 naira invested per week, follow these steps:

1. **Determine the Interest Rate**:
- For every 10 naira, the interest is 1 naira.
- This translates to an interest rate of 10% per week (because 1 naira is 10% of 10 naira).

2. **Calculate the Weekly Interest**:
- For 2000 naira, the interest earned for one week can be calculated as:
\[
\text{Weekly Interest} = 2000 \, \text{naira} \times 0.10 = 200 \, \text{naira}
\]

3. **Calculate Total Interest for 3 Weeks**:
- Multiply the weekly interest by the number of weeks:
\[
\text{Total Interest for 3 Weeks} = 200 \, \text{naira/week} \times 3 \, \text{weeks} = 600 \, \text{naira}
\]

4. **Final Amount**:
- Add the total interest to the principal investment to find the total amount after 3 weeks:
\[
\text{Total Amount} = \text{Principal} + \text{Total Interest} = 2000 \, \text{naira} + 600 \, \text{naira} = 2600 \, \text{naira}
\]

So, the total interest earned after 3 weeks would be **600 naira**, and the total amount after 3 weeks would be **2600 naira**.