✏️SIMPLE INTEREST
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[tex]\underline{\mathbb{PROBLEMS:}}[/tex]
- #1. At 8% interest a year, how much interest will a deposit of P4,000 earn after 2 years?
- #2. Ben borrowed P3,000 from a bank that gives 15% interest per annum. How much money will he have paid the bank after 5 years?
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[tex]\underline{\mathbb{ANSWERS:}}[/tex]
[tex]\qquad\LARGE\rm» \:\: 1. \: \green{I_s= ₱640}[/tex]
[tex]\qquad\LARGE\rm» \:\: 2. \: \green{A= ₱5\text,250}[/tex]
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[tex]\underline{\mathbb{SOLUTIONS:}}[/tex]
#1. Using the Interest Formula to find the total amount of interest.
[tex]\begin{aligned} & \bold{\color{lightblue}Formula:} \\ & \boxed{\: \rm I_s = prt \:}\end{aligned} [/tex]
- [tex] \rm I_s = (4\text,000)(0.08)(2)[/tex]
- [tex] \rm I_s = (4\text,000)(0.16)[/tex]
- [tex] \rm I_s = 640[/tex]
[tex]\therefore[/tex] The total amount of interest is P640.00
[tex]\rm[/tex]
#2. Using this formula to find the total amount will have to paid in the bank after 5 years.
[tex]\begin{aligned} & \bold{\color{lightblue}Formula:} \\ & \boxed{\: \rm A = P(1 + rt) \:}\end{aligned} [/tex]
- [tex]\rm A = 3\text,000\big(1 + (0.15)(5) \big)[/tex]
- [tex]\rm A = 3\text,000\big(1 + 0.75\big)[/tex]
- [tex]\rm A = 3\text,000\big(1.75\big)[/tex]
- [tex]\rm A = 5\text,250[/tex]
[tex]\therefore[/tex] The total amount of money will he have to paid in the bank is P5,250.
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