Calculate the simple interest for 3 years when the principal amount is 200 and interest rate is 10% for 1 year.

Understand formula: Understand the formula for simple interest. Simple interest can be calculated using the formula I = PRT, where I is the interest, P is the principal amount, R is the rate of interest per year, and T is the time in years.Identify values: Identify the values for P, R, and T from the problem. The principal amount (P) is $200, the rate of interest (R) is 10% or 0.10 when expressed as a decimal, and the time (T) is 3 years.Substitute values: Substitute the values into the simple interest formula. Using the values from Step 2, we calculate the interest (I) as follows: I = PRT I = 200 * 0.10 * 3Perform calculation: Perform the calculation to find the interest. I = 200 * 0.10 * 3 I = 200 * 0.3 I = 60Verify result: Verify the calculation for any mathematical errors. Rechecking the multiplication: 200 * 0.10 = 20 20 * 3 = 60 The calculation is correct.

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Calculate the simple interest for
3 years when the principal amount is 200 and interest rate is
10% for 1 year.

Calculate the simple interest for $\mathbf{3}$ years when the principal amount is $200$ and interest rate is $10 \%$ for $1$ year.

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Math Problems

Grade 8

Interpreting Linear Expressions

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Q. Calculate the simple interest for

\mathbf{3}

years when the principal amount is

200

and interest rate is

10 \%

for

1

year.

Understand formula: Understand the formula for simple interest. Simple interest can be calculated using the formula $I = PRT$ , where $I$ is the interest, $P$ is the principal amount, $R$ is the rate of interest per year, and $T$ is the time in years.
Identify values: Identify the values for $P$ , $R$ , and $T$ from the problem. $\newline$ The principal amount ( $P$ ) is $\$200$ , the rate of interest ( $R$ ) is $10\%$ or $0.10$ when expressed as a decimal, and the time ( $T$ ) is $3$ years.
Substitute values: Substitute the values into the simple interest formula. $\newline$ Using the values from Step $2$ , we calculate the interest ( $I$ ) as follows: $\newline$ $I = PRT$ $\newline$ $I = 200 \times 0.10 \times 3$
Perform calculation: Perform the calculation to find the interest. $\newline$ $I = 200 \times 0.10 \times 3$ $\newline$ $I = 200 \times 0.3$ $\newline$ $I = 60$
Verify result: Verify the calculation for any mathematical errors. $\newline$ Rechecking the multiplication: $\newline$ $200 \times 0.10 = 20$ $\newline$ $20 \times 3 = 60$ $\newline$ The calculation is correct.