SIMPLE INTEREST 2

Dikshi deposited the amount of 6000/= in a bank which gives an interest rate of 3% for 2 years. Find the simple interest she got?

Solution

I = ?,  P = 7,000/=, T = 2 years, R = 5%

I  = PRT

      100

I  = 7000 x 5 x 2

            100

I  = 7000 x 5 x 2

            100

I  = 70 x 5 x 2

          

I  = 700/=

Hence the simple interest was Tsh 700/=

TRY THIS……………………

Hiren deposited the amount of 9000/= in a bank which gives an interest rate of 4% for 2 years. Find the simple interest she got?