SIMPLE INTEREST 2

Dikshi deposited the amount of 9000/= in a bank which gives an interest rate of 3% for 2 years. Find the simple interest she got.

Solution

I = ?,  P = 9,000/=, T = 2 years, R = 3%

I  = PRT

      100

I  = 9000 x 3 x 2

            100

I  = 9000 x 3 x 2

            100

I  = 90 x 3 x 2

          

I  = 540/=

Hence the simple interest was Tsh 540/=

TRY THIS………………….

Edmund deposited the amount of 60,000/= in a bank which gives an interest rate of 6% for 4 years. Find the simple interest she got?