Hey, Neha. Create content for 5th Grade simple interest calculation. Some example bank loan.
视频信息
答案文本
视频字幕
Welcome to learning about simple interest! Simple interest is the extra money you have to pay when you borrow money from a bank. Think of it like a fee for using someone else's money. For example, if you borrow one hundred dollars and the bank charges five percent simple interest per year, you would pay five dollars extra each year.
Now let's learn the simple interest formula. Simple Interest equals Principal times Rate times Time. We can write this as S I equals P times R times T. Here, P is the principal or the amount of money borrowed, R is the rate of interest per year as a decimal, and T is the time in years.
Let's solve a real example. Sara wants to borrow five hundred dollars from the bank to buy a bicycle. The bank charges six percent simple interest per year. If Sara pays back the loan after two years, how much interest will she pay? First, let's identify what we know. The principal P is five hundred dollars, the rate R is six percent which equals zero point zero six as a decimal, and the time T is two years. Now we use our formula: S I equals P times R times T. Substituting our values: S I equals five hundred times zero point zero six times two. This gives us thirty times two, which equals sixty dollars. So Sara will pay sixty dollars in interest!
It's important to understand the total amount you need to pay back. When you borrow money, you pay back the original amount plus the interest. The total amount equals the principal plus the simple interest. For Sara's loan, the total amount is five hundred dollars plus sixty dollars, which equals five hundred sixty dollars. So Sara pays back five hundred sixty dollars total - that's the original five hundred dollars she borrowed plus sixty dollars in interest.
To summarize what we've learned today: Simple interest is the extra money you pay when borrowing from a bank. We use the formula S I equals Principal times Rate times Time to calculate it. The total amount you pay back is the principal plus the simple interest. Banks use this formula to determine how much loans will cost.
Now let's learn the simple interest formula. Simple Interest equals Principal times Rate times Time. We can write this as S I equals P times R times T. Here, P is the principal or the amount of money borrowed, R is the rate of interest per year as a decimal, and T is the time in years.
Let's solve a real example. Sara wants to borrow five hundred dollars from the bank to buy a bicycle. The bank charges six percent simple interest per year. If Sara pays back the loan after two years, how much interest will she pay? First, let's identify what we know. The principal P is five hundred dollars, the rate R is six percent which equals zero point zero six as a decimal, and the time T is two years. Now we use our formula: S I equals P times R times T. Substituting our values: S I equals five hundred times zero point zero six times two. This gives us thirty times two, which equals sixty dollars. So Sara will pay sixty dollars in interest!
It's important to understand the total amount you need to pay back. When you borrow money, you pay back the original amount plus the interest. The total amount equals the principal plus the simple interest. For Sara's loan, the total amount is five hundred dollars plus sixty dollars, which equals five hundred sixty dollars. So Sara pays back five hundred sixty dollars total - that's the original five hundred dollars she borrowed plus sixty dollars in interest.
To summarize what we've learned today: Simple interest is the extra money you pay when borrowing from a bank. We use the formula S I equals Principal times Rate times Time to calculate it. The total amount you pay back is the principal plus the simple interest. Banks use this formula to determine how much loans will cost.