Worksheet 8 computing simple interest problems
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Mr. Crab borrowed P25,300 for 3 years at an interest rate of 8% per year. The problem asks to calculate the amount of interest charged. The second problem asks to calculate the time period, in years, that P25,000 would need to be invested at 10.75% interest to earn P8,200 in interest. The third problem provides an investment of P50,000 that earned P10,062.50 in interest over 1 year and 9 months and asks to calculate the interest rate. The final problem asks to calculate the interest earnings after 3 years and 2 months on an initial investment of P18,300 at an interest rate of 9.75%.
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Worksheet 8 computing simple interest problems
- 1. Worksheet 8: Computing Simple Interest Problems Name: Date: Grade andSection: Direction: Solve the following. Write your complete solutions on the space provided for. Please identify the given and the formula to be used. Write your final answer on the space provided for by answering what is being asked in the problem. Do not forget to indicate the correct sign/symbol/unit of measurement in your final answer. 1-8. Mr. Crab borrowed P25,300.00 for 3 years at 8% simpleinterest.Howmuchwastheamount chargedfor the use of money? 9-16. For how long (in years) will an amount of P25,000.00 be invested at 10.75% to earn an interest of P8,200.00? Solution: Solution: Final Answer: Final Answer: 17-24. At what interest rate will an investment of P50,000.00earnaninterestofP10,062.50in1 yearand 9 months? 25-32. Mr.Beaninvestedanamountof P18,300.00at 9.75%. How much shall be his interest earnings after 3 years and 2months? Solution: Solution: Final Answer: Final Answer: