Interest Examples Math
Word problems with one simple interest.
Interest examples math. Alex borrows 1 000 for 7 years at 6 simple interest. Principal interest 5000 1200 6200. Always take a moment to identify the values given in the problem. Principle 15 000 rate of interest r 10 0 10 and the interest paid i 9 000.
A 2 year loan of 500 is made with 4 simple interest. Hence the value of his deposit after 4 years is 6 200. He must invest 37 500 example 2. If he paid 9 000 as interest while clearing the loan find the time for which the loan was given.
John wants to have an interest income of 3 000 a year. I interest p amount borrowed called principal r interest rate t time. Glen received 2 250 loan from bank. Write down the formula.
How much must he invest for one year at 8. Jane owes the bank some money at 4 per year. I 2295 2250. I prt step 2.
Plug in the values 3000 p 0 08 1 3000 0 08p p 37 500. After six months he paid back 2 295 and closed the loan. T 2 initial amount. T i pr 9000 15 000 x 0 10 6 years.
Interest amount principal. Solved examples on simple interest. Formula for simple interest is. Find the interest earned.
And t is to be found. The loan was given for 6 years.