SIMPLE INTEREST 1F

 

Dikshi deposited the amount of 90,000/= in a bank which gives an interest rate of 3% for 2 years. Find the simple interest she got.

 

Solution

 

I = ?,  P = 90,000/=, T = 2 years, R = 3%

 

I  = PRT

      100

 

I  = 90000 x 3 x 2

            100

 

I  = 90000 x 3 x 2

            100

 

I  = 900 x 3 x 2

          

I  = 5400/=

 

Hence the simple interest was Tsh 5400/=

 

TRY THIS………………….

 

Edmund deposited the amount of 40,000/= in a bank which gives an interest rate of 6% for 5 years. What was her simple interest?