Math Problem Statement
Solution
I see the math problems in your uploaded image. I will solve each one step by step below:
9. Find the time to accumulate an interest of ₱10,200 when ₱85,000 is invested at 4% simple interest.
The formula for simple interest is:
Where:
Rearranging for :
Answer:
10. Pia repays her loan for ₱40,250. If the loan was for 15 months at 12% interest, how much was the principal?
The total amount is given by:
Where:
Rearranging for :
Answer: The principal was .
11. A credit union charges ₱600 interest for the use of ₱12,000 for 90 days. What simple interest rate is in effect?
The formula for interest is:
Where:
Rearranging for :
Answer: The simple interest rate is .
12. If Jessica loaned ₱300,000 from a bank charging 9% simple interest, how much would she pay at the end of three years?
The total amount is given by:
Where:
Substituting:
Answer: Jessica would pay .
3. How much will Eric receive if he invested ₱100,000 for one year and three months at 15% interest?
The time is:
The total amount is:
Where:
Substituting:
Answer: Eric will receive .
Let me know if you'd like further details on any of these!
Here are 5 related questions to expand your learning:
- What is the formula for compound interest, and how does it differ from simple interest?
- How would the answer to Question 9 change if the rate was compounded annually instead of being simple interest?
- How do we calculate the effective annual rate (EAR) for interest rates?
- If a loan had a variable interest rate that changed annually, how would you calculate the total payment?
- How does inflation impact the real value of interest earned on investments?
Tip: Always double-check the time unit (e.g., years, months, days) when solving interest-related problems—it’s a common source of mistakes!
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Math Problem Analysis
Mathematical Concepts
Simple Interest
Time Calculation
Principal Calculation
Interest Rate
Total Amount
Formulas
Simple Interest: I = P * r * t
Time: t = I / (P * r)
Principal: P = A / (1 + r * t)
Rate: r = I / (P * t)
Total Amount: A = P * (1 + r * t)
Theorems
Simple Interest Formula
Suitable Grade Level
Grades 9-11