Find the amount of interest for a loan of ₱100, 000 at a.6% interest for 8 months.

To find the amount of interest for a loan, we can use the simple interest formula:

\[
I = P \times r \times t
\]

Where:
- \(I\) = Interest
- \(P\) = Principal (₱100,000)
- \(r\) = Annual interest rate (expressed as a decimal)
- \(t\) = Time (in years)

### Step 1: Convert the interest rate and time
- Interest rate \(r = 0.6\%\) = 0.006 (as a decimal).
- Time \(t\) = 8 months = \(\frac{8}{12} = \frac{2}{3}\) years.

### Step 2: Plug in the values
\[
I = 100,000 \times 0.006 \times \frac{2}{3}
\]

Now let's calculate the interest.The amount of interest for the loan is ₱400.

Would you like more details on the calculation or have any other questions?

Here are five related questions you might find useful:
1. How do you calculate the total amount to be paid at the end of the loan period?
2. What would the interest be if the loan period were 1 year instead of 8 months?
3. How does the simple interest formula differ from compound interest?
4. What is the effect of changing the interest rate on the overall interest paid?
5. How would the interest change if the principal were ₱200,000 instead?

**Tip**: Always ensure that the time is correctly converted into years when using the simple interest formula.

Find the amount of interest for a loan of ₱100,000 at 0.6% interest for 8 months.

Learn how to calculate the interest for a ₱100,000 loan at 0.6% annual interest over 8 months. This step-by-step guide covers the simple interest formula (I = P × r × t), time conversion, and percentage calculations. Suitable for students in Grades 6-8.

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