Simple Interest

1. Simple Interest Finding Principle, Rate, & Time

13. Examples • What is the interest rate for the investment of a person who deposits 500$ in a bank for 5 months and 600$ for 8 months and 700$ for 12 months knowing that the total maturity value =2000$

14. Examples • A person invested a principal P in bank A for 5 months, the bank offers an interest rate of 10%, and invested the same amount in bank B that offers a rate of 8% for 7 months • If the man had a total amount of 3000$ at the end of the periods, what was P?

15. Examples • Ahmad borrowed 500$ from a bank in April 3, when the loan matured, he repaid 530$. If you know that the interest rate in this bank was 8%, at what day Ahmad repaid the loan?

16. Examples • Ali borrowed 20,000$ from a bank for 219 days, If the difference between the exact interest and the ordinary interest at the end of the period was 10$, What was the interest rate in that bank?

17. Examples • Omar invested a principal P in bank A for a year. The interest was 50$ at the end of the year. He invested the same amount in bank B which its interest rate increases 1% than the first bank. The interest in the second bank was 165$ after 3 years. What was P and the interest rate in the two banks?

18. Examples • A person borrowed three loans • 1000$ in 25 March 1980 • 2000$ in 17 June 1980 • 3000$ in 28 August 1980 • In 30 November 1980 the bank informed him that the total maturity in that date is 6216$. What was the interest rate in that bank

19. Simple Discount Notes