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Popular Word Problems >

Pamela invested ₱20,000 at 8% simple interest for 10 years. How much is the interest earned by Pamela in 10 years?

Solution

P am e l a in v es t e d ₱20, 000 a t 8% s im pl e in t eres t f or 10 ye a rs . Ho w m u c h i s t h e in t eres t e a r n e d b y P am e l a in 10 ye a rs ?

Solution

Interest : 16000

Solution steps

Translate the problem into an equation:

I = 20000 \cdot 0.08 \cdot 10

Simplify

I = 20000 \cdot 0.08 \cdot 10

Interest : 16000

Popular Examples

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