Jasmine invests £250 in a building society. After the first year her account
contains £262.50. After the second year it contains £280.88. Calculate the
percentage increase of the amount in her account:
(a) during the first year,(b) during the second year, (c) over the two years.
Give your answers correct to 2 decimal places.
please tomorrow is my exam . help me

Dear Student,

Please find below the solution to the asked query:

Given : Jasmine invests £ 250 in a building society. After the first year her account contains £262.50.

a ) We calculate the percentage increase of the amount in her account during the first year, As :

Change in amount = £ 262.50 - £ 250 = £ 12.50

Then,

Percentage increase of the amount in her account during the first year = 12.50250×100 = 1250250 = 5 %             ( Ans )

Also given : After the second year it contains £280.88.

b ) We calculate the percentage increase of the amount in her account during the second year, As : 

Change in amount for second year  = £ 280.88 - £ 262.50 = £ 18.38

Then,

Percentage increase of the amount in her account during the second year = 18.38262.50×100 = 183826250×100= 18380026250 = 7.0019 7.00 %             ( Ans )

) We calculate the percentage increase of the amount in her account over two years, As : 

Change in amount for over two years  = £ 280.88 - £ 250 = £ 30.88

Then,

Percentage increase of the amount in her account during the over two years = 30.88250×100 = 30.885×2= 61.765 =12.35212.35 %             ( Ans )

Hope this information will clear your doubts about topic.

If you have any more doubts just ask here on the forum and our experts will try to help you out as soon as possible.

Regards

  • 3
What are you looking for?