How much interest Is earned on P6,200 at 4% for one year?

To calculate the interest earned, we can use the formula for **simple interest**:

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

Where:
- \( I \) = Interest
- \( P \) = Principal (amount of money) = P6,200
- \( r \) = Annual interest rate (as a decimal) = 4% = 0.04
- \( t \) = Time in years = 1 year

Substituting the values into the formula:

\[
I = 6,200 \times 0.04 \times 1
\]

\[
I = 248
\]

So, the interest earned is **P248**.

Would you like further details or have any other questions? Here are some related questions:

1. What is the total amount after one year with the interest included?
2. How does the interest change if the time is 2 years instead of 1 year?
3. What would the interest be if the rate were 5% instead of 4%?
4. How is compound interest different from simple interest?
5. What is the formula for compound interest?

**Tip:** To convert a percentage to a decimal, divide by 100 (e.g., 4% = 0.04).

How much interest is earned on P6,200 at 4% for one year?

Discover how to calculate the simple interest earned on P6,200 at an interest rate of 4% for one year. Using the formula I = P × r × t, learn how P248 is calculated. Ideal for students in Grades 5-7.

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