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# John invests 100 dollars in account that yields 8% simple interest ann

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Math Expert
Joined: 02 Sep 2009
Posts: 55271
John invests 100 dollars in account that yields 8% simple interest ann  [#permalink]

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28 Jul 2017, 08:49
00:00

Difficulty:

5% (low)

Question Stats:

95% (00:20) correct 5% (00:17) wrong based on 60 sessions

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John invests 100 dollars in account that yields 8% simple interest annually. How much money will John have in his account after one year?

(A) \$4

(B) \$8

(C) \$104

(D) \$108

(E) \$110

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Re: John invests 100 dollars in account that yields 8% simple interest ann  [#permalink]

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28 Jul 2017, 12:06
Amount invested by John is 100\$ at an annual simple interest of 8%

Amount at the end of the first year = Amount invested + Interest in the first year

Amount at the end of one year is 100 + 8% of 100 = 100 + 8 = 108(Option D)
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Re: John invests 100 dollars in account that yields 8% simple interest ann   [#permalink] 28 Jul 2017, 12:06
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