Mathematics (simple interest)

Interest=PxRxT
100
=sh 300,000×5×1
100
=1,500,000
Therefore Kato will earn sh.1,500,000 after 1 year.

b, Total amount=Principle+
Interest
=300,000+1,500,000
=1,800,000

Simple Interest Calculation
The problem involves Kato saving 300,000 shillings in a bank at a 5% simple interest per year.

*a) Interest after 1 year*
The simple interest formula is
I =P×R×T
where
- P = 300,000 (principal),
- R = 0.05 (5% interest rate),
- T = 1 year
I = 300000×0.05×1 which gives u 15000
*b) Total money after 1 year*
The total amount (A)= 300000+15000 which will giv u 315000
Answers
a) Interest after 1 year = 15,000 shillings
b) Total money after 1 year = 315,000 shillings

In the New curriculum, it's very important to define key definitions, say simple interest, and other corresponding terms

I would like to correct myself
Interest=P×T×T
=300,000×5×1/100
=15,000
b, Total amount=
Principle+Interest
=300,000+15,000
=315000
Therefore total amount after 1 year =315000