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Date: ___________
I. Objective:
Solve the word problem involving simple interest, principal, rate and time
Value: Thrift
3. Motivation:
Have you visited banks here in Butuan City? What are the names of the bank have you
seen in our city? How about ATM? bank books? Who has seen a bank book? What can you
see in it? Does it have an interest? What about the principal?
B. Developmental Activities:
1. Presentation:
a. Activity 1 - Use of Compatible Numbers
Sample:
Mr. Palaca has a deposit of P5 000 in a saving account for 2 years. If the
BDO ( Banco de Oro) bank has simple interest at the rate of 6%, how much interest
will she receive?
2. Practice Exercises:
1) Three years ago, Mrs, Paredes borrowed P12 000, if she paid back P15 200, what was the
rate of simple interest?
2) Mrs. Arcalas applied a loan of P8 000 at a yearly interest of 10%. If she paid back the
FICCO of P9 600, what is time period of her loan?
3. Generalization:
How do you solve for the simple interest? rate of interest? and time?
IV. Evaluation:
Analyze and solves the problems.
Mrs. Jumawan invested P75 000 at 5.75% simple interest for 2 years. How much did she earn?
1) The rate of interest is _______.
2) The principal is _______.
3) The time covered _______.
4) The equation to be used to find the interest and total amount of money are:
a) _______.
b) _______.
5) The amount of interest Mrs. Jumawan’s money earned was _______.
V. Assignment:
1) Nena borrowed P75 000 from a bank. At the end of 2 years he has to pay back at 8% interest.
How much is the interest?
2) Ricardo's father borrows P90 000 from a financial institution. At the end of 2 3/4 years he has to
pay an interest rate of 20%. How much will he pay back the financial institution in all?
3) Rolando has P20000 in his savings account. If the rate of interest is 4 1/2% a year, how much
interest does his money earn? How much money will he have in all?