SIMPLE INTEREST-1

Priya deposited the amount of 90,000/= in a bank which gives an interest rate of 3% for 5 years. Find the simple interest she got.

Solution

I = ?,  P = 90,000/=, T = 5 years, R = 3%

I  = PRT

      100

I  = 90,000 x 3 x 5

            100

I  = 90,000 x 3 x 5

            100

I  = 900 x 3 x 5

          

I  = 13,500/=

Hence the simple interest was Tsh 13,500/=

TRY THIS………………….

Edmund deposited the amount of 50,000/= in a bank which gives an interest rate of 2% for 4 years. Find the simple interest he got?