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how to solve simple interest examples. Simple Interest is a method of calculating the Interest amount for some Principal Amount. Examples of finding the interest earned with the simple interest formula Example.
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Simple Interest 4000 45 3 540. Time is 2 years. Find the amount of interest earned by 8000 invested at 5 annual simple interest rate for 1 year.
T 2 Initial amount.
Use that decimal in the formula. If you want to find the total amount that is the maturity value of a deposit or the total amount payable including principal and interest then you can use this formula. Once you get the pocket money for next month again you will have to give it back to your friend. Find the amount of interest earned by 8000 invested at 5 annual simple interest rate for 1 year.
