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The problem shown in the image asks:

**Question:**
"£600 is deposited in a bank paying 3.25% simple interest per annum. How much interest will have been paid after 2 years?"

**Solution:**
The formula for simple interest is:

\[
I = P \times r \times t
\]

Where:
- \(I\) is the interest,
- \(P\) is the principal amount (£600),
- \(r\) is the interest rate per annum (3.25% or 0.0325),
- \(t\) is the time in years (2 years).

Now, calculating the interest:

\[
I = 600 \times 0.0325 \times 2
\]
\[
I = 600 \times 0.065 = 39
\]

So, the total interest paid after 2 years will be **£39**.

Would you like any more details or further explanations? Here are some related questions you might find interesting:

1. What would be the total amount in the account after 2 years, including interest?
2. How would the interest change if the rate were compounded annually instead of being simple interest?
3. What happens to the interest if the deposit period is increased to 5 years?
4. How does simple interest differ from compound interest in long-term investments?
5. How would the calculation change if the interest rate was 4% instead of 3.25%?

**Tip:** Always convert the percentage rate to a decimal (by dividing by 100) before applying it in the interest formula.

£600 is deposited in a bank paying 3.25% simple interest per annum. How much interest will have been paid after 2 years?

Learn how to calculate the simple interest on £600 deposited at 3.25% per annum for 2 years. This problem covers key financial math concepts like simple interest, percentage, and time, suitable for students in Grades 7-9.

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