SIMPLE INTEREST 3

Dikshi deposited the amount of 12,000/= in a bank which gives an interest rate of 3% for 4 years. Find the simple interest she got.

Solution

I = ?,  P = 12,000/=, T = 4 years, R = 3%

I  = PRT

      100

I  = 12,000 x 3 x 4

            100

I  = 12,000 x 3 x 4

            100

I  = 120 x 3 x 4

          

I  = 1440/=

Hence the simple interest was Tsh 1440/=

TRY THIS…………………………

Harshita deposited the amount of 70,000/= in a bank which gives an interest rate of 3% for 6 years. Find the simple interest she got.