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;
[tex] S.I = \frac {PRT}{100} [/tex]
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;
[tex] S.I = \frac {4000*6*4}{100} [/tex]
[tex] S.I = \frac {4000*6*4}{100} [/tex]
[tex] S.I = \frac {96000}{100} [/tex]
S.I = K960
b. Principal = K23 000
Interest rate = 6.5%
Time = 8 years
To find the simple interest;
[tex] S.I = \frac {PRT}{100} [/tex]
Substituting into the formula, we have;
[tex] S.I = \frac {23000*6.5*8}{100} [/tex]
[tex] S.I = \frac {1196000}{100} [/tex]
S.I = K11,960
c. Principal = K580
Interest rate = 5%
Time = 9 months
To find the simple interest;
[tex] S.I = \frac {580*5*9}{100} [/tex]
[tex] S.I = \frac {26100}{100} [/tex]
S.I = K261
