SIMPLE INTEREST 1

Athanas deposited the amount of 110,000/= in a bank which gives an interest rate of 5% for 2 years. Find the simple interest she got?

Solution

I = ?,  P = 110,000/=, T = 2 years, R = 5%

I  = PRT

      100

I  = 110,000 x 5 x 2

            100

I  = 110000 x 5 x 2

            100

I  = 1100 x 5 x 2

          

I  = 11000/=

Hence the simple interest was Tsh 11000/=

TRY THIS………………..

Jeet deposited the amount of 8000/= in a bank which gives an interest rate of 4% for 5years. Find the simple interest she got?