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# Chapter 6 slides part 1

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### Chapter 6 slides part 1

1. 1. Instruction to students:0011 0010 1010 1101 0001 0100 1011 • Please go through the slides thoroughly, 2 before attempting the worksheets attached. 1 4 • Please print out the worksheets and submit to your math teacher. • You need to submit 3 worksheets in total.
2. 2. 1 2 Chapter 6 40011 0010 1010 1101 0001 0100 1011 Mathematics in Practical Situation
3. 3. SIMPLE INTEREST Simple interest is the 2 interest paid on the principal only for 1 40011 0010 1010 1101 0001 0100 1011 each time period.
4. 4. FORMULA 2 PRT I= 1 40011 0010 1010 1101 0001 0100 1011 100
5. 5. SIMPLE INTEREST • Interest (I): Interest0011 0010 1010 1101 0001 0100 1011 2 • PRINCIPAL(P): the amount of money invested or borrowed 1 • RATE (R): rate in % per annum • TIME: in years 4
6. 6. A sum of \$5000 is borrowed for 4 years Example 1: at 2% per annum. Find the simple interest and the amount to be paid back.0011 0010 1010 1101 0001 0100 1011 Solution: PRT 2 Interest, I = 100 1 4 5000 × 2 × 4 = 100 = \$400Amount to be paid back = 5000 + 400 = \$5400
7. 7. Example 2: If the simple interest on \$500 at 2%p.a. is \$40, find the0011 0010 1010 1101 0001 0100 1011 the loan. Solution: period of PRT 2 Interest, I = 100 1 4 500 × 2 × T 40 = 100 40 = 10T T = 4 years
8. 8. Compound Interest0011 0010 1010 1101 0001 0100 1011 • Interest earned after one period is added to 2 the principal to earn more interest for the next period 1 4
9. 9. Example 3: Find the compound interest on \$5000 for 2 years at 4% per annum compoundedSolution: annually.0011 0010 1010 1101 0001 0100 1011Interest in the first year = 5000 × 4 × 1 100 Method 1 2 = \$200Principal for second year = 5000 + 200 = \$5200 1 4 5200 × 4 × 1Interest in the second year = 100 = \$208Compound Interest = 5200 + 208 = \$5408
10. 10. Formula for calculate Compound Interest0011 0010 1010 1101 0001 0100 1011 n  i  2 Amount = P1 +   100  1 4 P = Principal amount I = interest rate per annum, expressed as percentage N = number of years compounded
11. 11. Example 3: Find the compound interest on \$5000 for 2 years at 4% per annum compoundedSolution: annually.0011 0010 1010 1101 0001 0100 1011 n  i Interest in the second year = P 1 +  Method 2 2  100  1 2  4  4 = 50001 +   100  = 5408Compound Interest = \$5408
12. 12. 1 2 Please proceed to worksheet 1 40011 0010 1010 1101 0001 0100 1011