Monday 19 September 2016

SIMPLE INTEREST 1




Rayan deposited the amount of 8,000/= in a bank for 7 years and got a profit of 2800/=. Find the interest rate?

Solution

I = 2800/=, P = 8,000/=, T = 7 years, R = ?

I  = PRT
      100

2800  = 8,000 x R x 7
                      100

2800  = 8,000 x R x 7
                      100

2800  = 80 x R x 7
                      
2800  = 560R
          
52800  = 560R
  560       560

Hence the interest rate was Tsh 5%


TRY THIS……………….



Kibonde deposited the amount of 18,000/= in a bank for 4 years and got a profit of 3000/=. Find the interest rate?

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