SIMPLE INTEREST J1

 

Kibadeni deposited the amount of 8,000/= in a bank for 5 years and got a profit of 4400/=. Find the interest rate?

 

Solution

 

I = 4400/=, P = 8,000/=, T = 5 years, R = ?

 

I  = PRT

      100

 

Where P=Principal amount

            I = simple Interest

           T= Time

           R=Rate

 

4400  = 8,000 x R x 5

                      100

 

 

4400  = 8,000 x R x 5

                      100

 

4400  = 80 x R x 5

                      

4400  = 400R

          

¹¹4400  = 400R

  400       400

 

Hence the interest rate was Tsh11%

 

 

TRY THIS……………….

 

 

 

Oden deposited the amount of 18,000/= in a bank for 4 years and got a profit of 3000/=. Find the interest rate?