Question

Find the simple interest on the following amounts:

Answer 1

Answer:

a. Simple interest = K960

b. Simple interest = K11,960

c. Simple interest = K261

Step-by-step explanation:

Given the following data;

a. Principal = K4000

Interest rate = 6%

Time = 4 years

To find the simple interest;

Mathematically, simple interest is calculated using this formula;

$S.I = \frac {PRT}{100}$

Where;

S.I is simple interest.

P is the principal.

R is the interest rate.

T is the time.

Substituting into the equation, we have;

$S.I = \frac {4000*6*4}{100}$

$S.I = \frac {4000*6*4}{100}$

$S.I = \frac {96000}{100}$

S.I = K960

b. Principal = K23 000

Interest rate = 6.5%

Time = 8 years

To find the simple interest;

$S.I = \frac {PRT}{100}$

Substituting into the formula, we have;

$S.I = \frac {23000*6.5*8}{100}$

$S.I = \frac {1196000}{100}$

S.I = K11,960

c. Principal = K580

Interest rate = 5%

Time = 9 months

To find the simple interest;

$S.I = \frac {580*5*9}{100}$

$S.I = \frac {26100}{100}$

S.I = K261