how much interest does ₱6,200 at 4% for one year?

To calculate the interest earned on ₱6,200 at 4% for one year, we can use the simple interest formula:

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

Where:
- \( I \) is the interest,
- \( P \) is the principal amount (₱6,200),
- \( r \) is the interest rate (4% or 0.04 in decimal),
- \( t \) is the time period (1 year).

Now, let's calculate:

\[
I = 6200 \times 0.04 \times 1 = 248
\]

So, the interest earned after one year is **₱248**.

Would you like more details or have any questions?

Here are five related questions:
1. How much would the total amount be (principal + interest) after 1 year?
2. What would be the interest after 2 years at the same rate?
3. How does compound interest differ from simple interest?
4. What would happen if the interest rate increased to 6%?
5. How can we calculate the interest for a different time period, like 6 months?

**Tip:** Always convert percentage rates into decimals when using them in formulas by dividing by 100.

Learn how to calculate the simple interest earned on ₱6,200 at an interest rate of 4% for one year using the simple interest formula. This solution is ideal for students in Grades 6-8 and explains key concepts such as percentages and basic algebra.

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