Monday, 4 July 2016

SIMPLE INTEREST 1


Priya deposited the amount of 210,000/= in a bank which gives an interest rate of 3% for 5 years. Find the simple interest she got.

Solution

I = ?,  P = 210,000/=, T = 5 years, R = 3%

I  = PRT
      100

I  = 210,000 x 3 x 5
            100

I  = 210,000 x 3 x 5
            100

I  = 2100 x 3 x 5
          
I  = 31,500/=

Hence the simple interest was Tsh 31,500/=

TRY THIS………………….


Edmund deposited the amount of 70,000/= in a bank which gives an interest rate of 2% for 4 years. Find the simple interest he got?

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