SIMPLE INTEREST B4

Anjali deposited the amount of 8000/= in a bank which gives an interest rate of 5% for 2 years. Find the simple interest she got?

Solution

I = ?,  P = 8,000/=, T = 2 years, R = 5%

I  = PRT

      100

I  = 8000 x 5 x 2

            100

I  = 8000 x 5 x 2

            100

I  = 80 x 5 x 2

           

I  = 800/=

Hence the simple interest was Tsh 800/=