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Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

Grade 8 - Mathematics
Simple Interest - III

Example:
P = $27,600, I = $2484 and R = 3%, then find the time.

Solution:
Formula
I = PTR/100
Where I = Interest, P = Principal, T = Time and R = Rate or interest.

Therefore:
T = (I*100)/(PR)

Substituting the given values in the above formula.
T = (2484 * 100) / (27600 * 3)
T = 248400 / 82800
T = 3 years.


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