SIMPLE INTEREST 1

Dikshi deposited the amount of 9000/= in a bank which gives an interest rate of 3% for 4 years. Find the simple interest she got.

Solution

I = ?,  P = 9,000/=, T = 4 years, R = 3%

I  = PRT

      100

I  = 9000 x 3 x 4

            100

I  = 9000 x 3 x 4

            100

I  = 90 x 3 x 4

          

I  = 1080/=

Hence the simple interest was Tsh 1080/=

TRY THIS………………….

Edmund deposited the amount of 50,000/= in a bank which gives an interest rate of 6% for 4 years. Find the simple interest she got?