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Activity #1

Direction: Solve the following problems on simple interest. Show your solutions



1. PHP 3,500.00 was paid as Simple Interest on a sum of money worth PHP 14,000.00 if the money was borrowed at the rate of 5% per annum. How many years was the period of the loan?



2. If PhP 210.00 was earned as simple interest on money invested at 5% for 2 years, what amount of money was invested?

Sagot :

MARKANGELOSIBAL3IN

Answer:

1.Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the

2.Simple interest is calculated with the following formula: S.I. = P × R × T, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years. The rate of interest is in percentage r% and is to be written as r/100.

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