SIMPLE INTEREST 4

Anjali deposited the amount of 13,000/= in a bank which gives an interest rate of 5% for 2 years. Find the simple interest she got?

Solution

I = ?,  P = 13,000/=, T = 2 years, R = 5%

I  = PRT

      100

I  = 13,000 x 5 x 2

            100

I  = 13000 x 5 x 2

            100

I  = 130 x 5 x 2

          

I  = 1300/=

Hence the simple interest was Tsh 1300/=

TRY THIS………………..

Chudasama deposited the amount of 90,000/= in a bank which gives an interest rate of 3% for 5 years. Find the simple interest she got?