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Simple and Compound Interests

* Mrs. Dolores invested an unknown amount (x) at 10% simple interest per year * After 2 years, the interest she received was ₱3,000 * Using the simple interest formula: Interest = Principal x Rate x Time * Let the principal be x * Rate is 10% = 0.1 * Time is 2 years * So: ₱3,000 = x x 0.1 x 2 * ₱3,000 = 0.1x x 2 * ₱3,000 = 0.2x * ₱3,000/0.2 = x * x = ₱15,000 Therefore, the

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86 views18 pages

Simple and Compound Interests

* Mrs. Dolores invested an unknown amount (x) at 10% simple interest per year * After 2 years, the interest she received was ₱3,000 * Using the simple interest formula: Interest = Principal x Rate x Time * Let the principal be x * Rate is 10% = 0.1 * Time is 2 years * So: ₱3,000 = x x 0.1 x 2 * ₱3,000 = 0.1x x 2 * ₱3,000 = 0.2x * ₱3,000/0.2 = x * x = ₱15,000 Therefore, the

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Venus Abanes
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SIMPLE AND COMPOUND

INTERESTS
SPECIFIC LEARNING OBJECTIVES:
• Recall the conversion of percent to decimal
and formulas about interest.
• State the given and unknown quantity of a
word problem.
• Apply the concept of interest to real-life word
problem.
• Participate during class discussion and
recitation.
Kahoot Online Quiz
What is the formula in solving the
compound interest?
How did mathematicians came up with
this formula?
Year Formula
1

t
Steps in Problem Solving
• A What is asked?
• G What are given
• O What is/are the operation/s needed to
solve the problem?
• N What is the number sentence?
• A What is the final answer?
What is the amount of interest of a
loan for ₱150,000 at 6.5 %simple
interest for 3 years?
• A. ₱29, 250
• B. ₱30, 500
• C. ₱32, 500
• D. ₱35, 000
When invested at an annual interest
rate of 7%, an amount earned ₱11,200
of simple interest in two years. How
much money was originally invested?
• A. ₱65, 000
• B. ₱70, 000
• C. ₱80, 000
• D. ₱85, 000
If an entrepreneur applies for a loan
amounting to ₱500, 000 in a bank, the
simple interest of which is ₱157,500
for 3 years, what interest rate is being
charged?
• A. 10%
• B. 10.5%
• C. 11%
• D. 11.5%
How much interest is charged when
₱50 000 is borrowed for 9 months at
annual simple interest rate of 10%?
• A. ₱3,650
• B. ₱3,050
• C. ₱3,755
• D. ₱3,750
How much money must be invested to
obtain an amount of ₱30,000 in 4
years if the money earns at 8%
compounded annually?
• A. ₱22,050.90
• B. ₱22,000.90
• C. ₱23,050.90
• D. ₱20,050.90
A businessman invested ₱100,000 in a
fund that pays 10.5% compounded
annually for 5 years. How much was in
the fund at the end of the term?
• A. ₱164,744.68
• B. ₱164,444.68
• C. ₱164,774.68
• D. ₱144,744.68
What amount must be deposited by a
15-year old student in a bank that pays
1% compounded annually so that after
10 years he will have ₱20,000?
• A. ₱18,115.74
• B. ₱18,105.74
• C. ₱18,205.74
• D. ₱12,105.74
Generalization
• How much money should a student place in a
time deposit in a bank that pays 1.1%
compounded annually so that he will have
₱200,000 after 6 years?
• A. ₱187, 923.65
• B. ₱187, 393.65
• C. ₱187, 293.65
• D. ₱178, 293.65
• What is the present value of ₱50,000 due in 7
years if money is worth 10% compounded
annually?
• A. ₱25, 667.91
• B. ₱25, 657.91
• C. ₱25, 567.91
• D. ₱25, 665.91
Mrs. Dolores invested a certain amount at
10% simple interest per year. After 2 years, the
interest she received amounted to ₱3,000.
How much did she invest?

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