Homework Yr 11 - Maths - "Simple Interest" *Help Please*

[hardcloud]

Hi FreeMathsHelp Members,

Please help me with my assignment in year 11 maths. All other questions are quite easy and I can do them without any issues. But creating two example equations for this question I'm finding it extremely difficult. Your help would be awesome!

Question II

Consider a Simple Interest investment which was able to earn the same amount of interest earned in part I above using the same original principal of $2500. Clearly describe and calculate two such possible Simple Interest investments that would satisfy this, the principal of $2500 (starting money) cannot change!

[End of Question II]

Interest made in Question I was = $547.49
Starting money in Question I was = $2500

Neither of these amounts can be changed when creating two simple interest equations. for Question II.

Conclusion; I need to find a % rate p.a. and time it took (years/months) to earn $547.49 in an simple interest account with $2500 starting money.

Formula's used to receive the following;

I = (P multiplied by R) multiplied by T divided by 100) = $
P = (100 multiplied by I) divided by (R multiplied by T) = $
R = (100 multiplied by I) divided by (P multiplied by T) = % p.a.
T = (100 multiplied by I) divided by (P multiplied by R) = Years

Definitions for the above;

I = Interest (amount bank will give/take)
P = Amount of money you start with
T = Time
R = % rate p.a.

Please help me work out two equations for question II, I'm totally stuck and lost what to even try to do. Big thanks to anyone who can help me. Please post if you need any to ask any questions. This is due tomorrow so please help!

Regards,

HardCloud

 

[Deleted member 4993]

Hi FreeMathsHelp Members,

Please help me with my assignment in year 11 maths. All other questions are quite easy and I can do them without any issues. But creating two example equations for this question I'm finding it extremely difficult. Your help would be awesome!

Question II

Consider a Simple Interest investment which was able to earn the same amount of interest earned in part I above using the same original principal of $2500. Clearly describe and calculate two such possible Simple Interest investments that would satisfy this, the principal of $2500 (starting money) cannot change!

[End of Question II]

Interest made in Question I was = $547.49
Starting money in Question I was = $2500

Neither of these amounts can be changed when creating two simple interest equations. for Question II.

Conclusion; I need to find a % rate p.a. and time it took (years/months) to earn $547.49 in an simple interest account with $2500 starting money.

Formula's used to receive the following;

I = (P multiplied by R) multiplied by T divided by 100) = $
P = (100 multiplied by I) divided by (R multiplied by T) = $
R = (100 multiplied by I) divided by (P multiplied by T) = % p.a.
T = (100 multiplied by I) divided by (P multiplied by R) = Years

Definitions for the above;

I = Interest (amount bank will give/take)
P = Amount of money you start with
T = Time
R = % rate p.a.

Please help me work out two equations for question II, I'm totally stuck and lost what to even try to do. Big thanks to anyone who can help me. Please post if you need any to ask any questions. This is due tomorrow so please help!

Regards,

HardCloud

Please tell us - what was the question I and how did you get the answer of interest = 547.49

To earn the same amount of interest - with same amount of principal you'll need to change the rate and the time.

Continue....

Please share your work with us .

If you are stuck at the beginning tell us and we'll start with the definitions.

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