Monday 20 November 2017

SIMPLE INTEREST 1


Rugaya deposited the amount of 90,000/= in a bank for 5 years and got a profit of 22,500 /=. Find the interest rate?

Solution

I = 22,500 /=, P = 90,000/=, T = 5 years, R = ?

I  = PRT
      100

22,500  = 90,000 x R x 5
                      100

22,500  = 90,000 x R x 5
                      100

22,500  = 900 x R x 5
                      
22,500  = 4500R
           
522,500  = 4500R
   4500       4500


Hence the interest rate was  5%

TRY THIS………….


Rweyendera deposited the amount of 12,000/= in a bank for 5 years and got a profit of 2100/=. Find the interest rate?


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