SIMPLE INTEREST 2

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

Solution

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

I  = PRT

      100

I  = 9000 x 4 x 4

            100

I  = 9000 x 4 x 4

            100

I  = 90 x 4 x 4

          

I  = 1440/=

Hence the simple interest was Tsh 1080/=

TRY THIS………………….

Edmund deposited the amount of 55,000/= in a bank which gives an interest rate of 6% for 6 years. Find the simple interest she got?