{"id":258,"date":"2022-04-12T10:02:05","date_gmt":"2022-04-12T10:02:05","guid":{"rendered":"http:\/\/7thclass.deltapublications.in\/?page_id=258"},"modified":"2025-03-26T09:01:45","modified_gmt":"2025-03-26T09:01:45","slug":"l-10-simple-interest","status":"publish","type":"page","link":"https:\/\/7thclass.deltapublications.in\/index.php\/l-10-simple-interest\/","title":{"rendered":"L.10 Simple interest"},"content":{"rendered":"\n

Simple interest<\/strong><\/h2>\n\n\n\n

Key notes:<\/p>\n\n\n\n

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i = prt
i is the interest earned
p is the principal (starting amount)
r is the interest rate expressed as a decimal
t is the time in years<\/p>\n<\/div><\/div>\n\n\n\n

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i = prt
i is the interest earned
p is the principal (starting amount)
r is the interest rate expressed as a decimal
t is the time in years<\/p>\n\n\n\n

To find the total amount in an account, calculate the interest and then add it to the principal.<\/p>\n<\/div><\/div>\n\n\n\n

Learn with an example<\/strong><\/p>\n\n\n\n

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\u25b6\ufe0f Peter has \u20b980 in a savings account that earns 10% interest per year. The interest is not compounded. How much interest will he earn in 1 year?<\/strong><\/p>\n\n\n\n

Use the formula i<\/em> = prt<\/em>, where i<\/em> is the interest earned, p<\/em> is the principal (starting amount), r<\/em> is the interest rate expressed as a decimal, and t<\/em> is the time in years.<\/p>\n<\/div><\/div>\n\n\n\n

\u20b9_____<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

Write the rate as a decimal.<\/p>\n\n\n\n

10 % = 0.1<\/p>\n\n\n\n

Calculate the interest earned.<\/p>\n\n\n\n

i = prt<\/p>\n\n\n\n

= \u20b980 \u00b7 0.1 \u00b7 1<\/p>\n\n\n\n

= \u20b98<\/p>\n\n\n\n

The interest will be \u20b98.<\/p>\n<\/div><\/div>\n\n\n\n

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\u25b6\ufe0f Addison has \u20b940 in a savings account that earns 5% interest per year. The interest is not compounded. How much interest will she earn in 1 year?<\/strong><\/p>\n\n\n\n

Use the formula i<\/em> = prt<\/em>, where i<\/em> is the interest earned, p<\/em> is the principal (starting amount), r<\/em> is the interest rate expressed as a decimal, and t<\/em> is the time in years.<\/p>\n\n\n\n

\u20b9______<\/p>\n<\/div><\/div>\n\n\n\n

Write the rate as a decimal.<\/p>\n\n\n\n

5 % = 0.05<\/p>\n\n\n\n

Calculate the interest earned.<\/p>\n\n\n\n

i = prt<\/p>\n\n\n\n

= \u20b940 \u00b7 0.05 \u00b7 1<\/p>\n\n\n\n

= \u20b92<\/p>\n\n\n\n

The interest will be \u20b92.<\/p>\n<\/div><\/div>\n\n\n\n

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\u25b6\ufe0f Trevor has \u20b920 in a savings account. The interest rate is 5% per year and is not compounded. How much will he have in total in 1 year?<\/strong><\/p>\n\n\n\n

Use the formula i<\/em> = prt<\/em>, where i<\/em> is the interest earned, p<\/em> is the principal (starting amount), r<\/em> is the interest rate expressed as a decimal, and t<\/em> is the time in years.<\/p>\n\n\n\n

\u20b9______<\/p>\n<\/div><\/div>\n\n\n\n

Write the rate as a decimal.<\/p>\n\n\n\n

5 % = 0.05<\/p>\n\n\n\n

Calculate the interest earned.<\/p>\n\n\n\n

i = prt<\/p>\n\n\n\n

= \u20b920 \u00b7 0.05 \u00b7 1<\/p>\n\n\n\n

= \u20b91<\/p>\n\n\n\n

Find the total amount by adding the interest to the principal.<\/p>\n\n\n\n

\u20b91 + \u20b920 = \u20b921<\/p>\n\n\n\n

The total amount will be \u20b921.00.<\/p>\n<\/div><\/div>\n\n\n\n

Let’s practice! \ud83d\udd8a\ufe0f<\/p>\n<\/div><\/div>\n\n\n\n

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\"\"<\/a><\/figure>\n<\/div>\n\n\n\n
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\"\"<\/a><\/figure>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Simple interest Key notes: i = prti is the interest earnedp is the principal (starting amount)r is the interest rate expressed as a decimalt is the time in years i = prti is the interest earnedp is the principal (starting amount)r is the interest rate expressed as a decimalt is the time in years ToContinue reading “L.10 Simple interest”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-258","page","type-page","status-publish","hentry","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/pages\/258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/comments?post=258"}],"version-history":[{"count":10,"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/pages\/258\/revisions"}],"predecessor-version":[{"id":15883,"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/pages\/258\/revisions\/15883"}],"wp:attachment":[{"href":"https:\/\/7thclass.deltapublications.in\/index.php\/wp-json\/wp\/v2\/media?parent=258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}