There are two ways for calculating interest

SIMPLE INTEREST

COMPOUND INTEREST

SIMPLE INTERESTwhen interest is calculated uniformly on the original principal throughout the loan period, it is called simple interest.

100

Where SI= simple interest

P= principal

R= rate of interest

T= time

AMOUNT = PRINCIPAL + INTEREST

QUESTIONS FOR PRACTICE

Q1. How much interest will be earned on $ 2000 at 6% SI for 2 years?

Q2. Shweta deposited $50,000 in a bank for two years with the interest rate of 5.5% p.a. How much interest would she earn? Also calculate the final value of investment.

Q3. Vishal deposited $ 100,000 in his bank for2 years at SI rate of 6%. What will be the final value of investment?

Q4. Find the rate of interest is amount after 6 months is $1050, borrowed amount being $1000?

Q5. What sum of money will produce $28600 interest in 3 years and 3 months @ 2.5% p.a. SI ?

DIFFICULT PROBLEMS-

Q6. Sonia invested $ 70,000 in a bank @ 6.5% p.a. SI. He received $ 85,925 after the end of term. Find out the period for which sum was invested by Sonia.

Q7. A sum of $ 46,875 was lent out at SI and at the end of 1year 8 months the total amount was $50,000. Find the rate percent per annum.

Q8. At what rate percent per annum will a sum of money triple itself in 20 years?

PLEASE KINDLY HELP ME TO ANSWER THIS 8 QUESTION showing a solution how to solve. thanks