Question

Guys please i need your help i am not getting the answer over the following questions.

1) Maria banked sh. 95,000 in her bank account. If the bank gives a simple interest of 17% per year, how much will she get after 3 years?
2) If Mollel got sh. 230,000 after investing some money for 2 years in a bank which offers an interest rate of 7.5% per annum, how much did he invest?
3) Sister Caro banked sh. 95,000 in her bank account. The bank offers a simple interest of 17% per year then how much interest will she earn after 3 years?

*And is there any difference between first question and the third question?
please guys show me what is supposed to be the principal(P), rate(R) , time(T) , amount or future value (A) and an interest amount(I)

Answer 1

I = PRT
I = 95000 * 0.17 * 3
I = 48.495.39

Add the interest to the principle.

When was this question asked? I don't know of any time that interest rates were so high.

Answer 2

2. P = Po + Po*r*t = $230,000,
Po + Po*0.075*2 = 230,000,
1.15Po = 230,000,
Po =