Profit And Loss And Simple Interest

What is the formula to find Simple interest ?

• (Principle x time x Rate) divided by 100

• Principle + rate + time

• Principle + rate divided by time

• Principle x time/ rate

How to find whether an object is selling at a profit?

• Selling price < Cost price = Profit

• Selling price > Cost price = Profit

When is a product selling at a loss?

• Cost price < Selling price = Loss

• Cost price > Selling price = Loss

What is Principal?

• Principle is the amount you deposit or take a loan from a bank

• Principle is the total amount you pay to the bank( with added SI)

• Principle is the amount of years you deposited or took a loan from a bank.

What is Simple interest?

• Simple interest is the extra money you pay to the bank or the amount the bank pays to you.

• Simple interest is the amount you deposit in a bank

• Simple interest is the time you take to return the money to the bank

Solve:-

Mary deposited $100 to a bank her rate is 3% and the time is 2 years. What is the Simple interest the bank paid to her?

Think and answer:-

If you run a bank.... how much SI will you give to a person who deposited 100 dollars for 1 year ( This question need not need a exact number)

How to calculate Loss%

• Loss% = Loss/Cost Price × 100

• Loss% = Loss/ selling price × 100

How to calculate Profit%

• Profit % = Profit/Cost Price × 100

• Profit % = Profit/ Selling price x cost price