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- GCE O-Level Maths
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Simple interest
- Intro Lesson1:44
- Lesson: 17:22
- Lesson: 29:05
- Lesson: 33:28
- Lesson: 4a1:41
- Lesson: 4b1:37
Simple interest
Basic Concepts: Representing percents, Percents, fractions, and decimals, Percent of a number, Adding and multiplying percents
Lessons
I=Prt where I = interest, P = Principal, r = interest rate, t = time (in years)
- IntroductionIntroduction to Simple Interest
- 1.Discuss the Basic Concepts of Simple Interest
Thomas borrowed $100 from the bank, and the bank charges 10% annual interest rate on it. How much interest does Thomas have to pay after a year?
- 2.Investigate the Advantages of Borrowing Money
Dennis borrowed $1500 with an interest rate of 10% per annum to start his business. A year later he sold his business for $3000. What is his net profit?
- 3.Determine the Impact of Borrowing Money for More Than One Year
Hailey wants to borrow $5000 from the bank. If the interest rate is 15% annually, how much interest is she expected to be paying the bank after 3 years?
- 4.Analyze Different Questions relating to Simple Interest
Nico is graduating high school and he decides to borrow $800 to go on a graduation trip to Las Vegas. He wants to borrow the money at a bank with an annual interest rate of 11% for 2 years.
a)Find the interest he will pay on the loan.b)How much will he have to pay the bank at the end of the two years?