Math Problem Statement

Find the time to accumulate an interest of ₱10,200 when ₱85,000 is invested at 4% simple interest. Pia repays her loan for ₱40,250. If the loan was for 15 months at 12% interest, how much was the principal? A credit union charges ₱600 interest for the use of ₱12,000 for 90 days. What simple interest rate is in effect? If Jessica loaned ₱300,000 from a bank charging 9% simple interest, how much would she pay at the end of three years? How much will Eric receive if he invested ₱100,000 for one year and three months at 15% interest?

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:
I=PrtI = P \cdot r \cdot t
Where:

  • I=10,200I = ₱10,200
  • P=85,000P = ₱85,000
  • r=4%=0.04r = 4\% = 0.04
  • t=time in yearst = \text{time in years}

Rearranging for tt:
t=IPrt = \frac{I}{P \cdot r}
t=10,20085,0000.04=10,2003,400=3yearst = \frac{10,200}{85,000 \cdot 0.04} = \frac{10,200}{3,400} = 3 \, \text{years}

Answer: t=3yearst = 3 \, \text{years}


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 AA is given by:
A=P(1+rt)A = P \cdot (1 + r \cdot t)
Where:

  • A=40,250A = ₱40,250
  • r=12%=0.12r = 12\% = 0.12
  • t=1512=1.25yearst = \frac{15}{12} = 1.25 \, \text{years}

Rearranging for PP:
P=A1+rtP = \frac{A}{1 + r \cdot t}
P=40,2501+(0.121.25)=40,2501+0.15=40,2501.15=35,000P = \frac{40,250}{1 + (0.12 \cdot 1.25)} = \frac{40,250}{1 + 0.15} = \frac{40,250}{1.15} = ₱35,000

Answer: The principal was 35,000₱35,000.


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:
I=PrtI = P \cdot r \cdot t
Where:

  • I=600I = ₱600
  • P=12,000P = ₱12,000
  • t=90365=0.2466yearst = \frac{90}{365} = 0.2466 \, \text{years}

Rearranging for rr:
r=IPtr = \frac{I}{P \cdot t}
r=60012,0000.2466=6002,959.2=0.2027=20.27%r = \frac{600}{12,000 \cdot 0.2466} = \frac{600}{2,959.2} = 0.2027 = 20.27\%

Answer: The simple interest rate is 20.27%20.27\%.


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 AA is given by:
A=P(1+rt)A = P \cdot (1 + r \cdot t)
Where:

  • P=300,000P = ₱300,000
  • r=9%=0.09r = 9\% = 0.09
  • t=3yearst = 3 \, \text{years}

Substituting:
A=300,000(1+0.093)=300,000(1+0.27)=300,0001.27=381,000A = 300,000 \cdot (1 + 0.09 \cdot 3) = 300,000 \cdot (1 + 0.27) = 300,000 \cdot 1.27 = ₱381,000

Answer: Jessica would pay 381,000₱381,000.


3. How much will Eric receive if he invested ₱100,000 for one year and three months at 15% interest?

The time tt is:
t=1year+312years=1.25yearst = 1 \, \text{year} + \frac{3}{12} \, \text{years} = 1.25 \, \text{years}
The total amount AA is:
A=P(1+rt)A = P \cdot (1 + r \cdot t)
Where:

  • P=100,000P = ₱100,000
  • r=15%=0.15r = 15\% = 0.15
  • t=1.25yearst = 1.25 \, \text{years}

Substituting:
A=100,000(1+0.151.25)=100,000(1+0.1875)=100,0001.1875=118,750A = 100,000 \cdot (1 + 0.15 \cdot 1.25) = 100,000 \cdot (1 + 0.1875) = 100,000 \cdot 1.1875 = ₱118,750

Answer: Eric will receive 118,750₱118,750.


Let me know if you'd like further details on any of these!

Here are 5 related questions to expand your learning:

  1. What is the formula for compound interest, and how does it differ from simple interest?
  2. How would the answer to Question 9 change if the rate was compounded annually instead of being simple interest?
  3. How do we calculate the effective annual rate (EAR) for interest rates?
  4. If a loan had a variable interest rate that changed annually, how would you calculate the total payment?
  5. 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