SIMPLE INTEREST 1

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

Solution

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

I  = PRT

      100

I  = 110,000 x 5 x 5

            100

I  = 110000 x 5 x 5

            100

I  = 1100 x 5 x 5

          

I  = 275,000/=

Hence the simple interest was Tsh 275,000/=

TRY THIS………………..

  

Jelna deposited the amount of 18000/= in a bank which gives an interest rate of 3% for 5years. Find the simple interest she got?