Reasoning

Mathematician
REASONING
MATHEMATICIAN Week 7
Session 1

Simple Interest I

Activity

Wesolvesituationsorchallengesthatinvolve
the use of interest rates

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What is interest?

We use interest to calculate the value that is paid or earned on a loaned capital or
saved. Also to measure the cost of a bank loan.

Simple interest

The interest rate is simple when the interest we obtain upon maturity of a period
It does not add to the capital to generate new interest, that is, the initial capital is constant.
It is always calculated on the initial capital, so the interest obtained in each period
time is always the same.

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 Elements and characteristics of simple interest

Initial capital (C):it does not change.

• Interés (I):it does not change.
•Tasa de interés (r):it applies to the invested capital or initial capital, expressed as a percentage
And when performing the calculation, its decimal expression is used.

Time period (t):It is the time that capital is subjected to an interest rate.
Formula for the calculation of Simple Interest: I=C.r.t

• Monto (M):It is the final capital formed by the initial capital plus the interest generated on a
interest rate agreed upon for a period of time.
M=C+I
We replace the calculation of simple interest: M = C[1 + r(t)]

Calculation of time periods:

In banking time periods, the term 'banking year' is used, which refers to
a period of 360 days.
Submultiples:
Semester: 2 periods in a year.
Quarter: 4 periods in a year.
Quarter: 3 periods in a year.
Bimester: 6 periods in a year.
Monthly: 12 periods in a year.
NOTE:
The time period and the interest rate must be given in the same unit of time.

Method for solving challenges

We understand the challenge or problem.
2. We design a strategy or plan.
3. We execute the strategy or plan.
4. We reflect on the solution.

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 Challenges

1. The peasant community of Marianne finds herself in the need to

Morocco has decided to acquire a request a loan from a bank
truck to facilitate the transfer of for the amount of S/ 12,500, which
its products to the wholesale market will pay in equal monthly installments,
from Juliaca, in Puno. The price of with an interest rate of 18%
The truck for cash is $85,000. annual, for a period of five years.
The community, organized through What time has passed if until the
a community directive has been carried out Has it paid S/ 14,250?
evaluations of different entities
financial entities that promote agriculture, 40 months
in order to seek financing 3years
at 5 years old, and has ended up with two c) 32 months
candidates:
4 years
Vilca Apaza Financial: offers a
38months
daily rate of 0.02 %.
Adapted from Minedu. (2019). Let's Solve Problems 5. Peru: Author.
Banco La Cosecha: offers a rate
monthly of 0.8 %.
4. Elizabeth has a certain capital,
When choosing the best entity. Which one?
it is the final amount that will be paid
el cual lo divide en dos partes, cuya
thedifferenceisS/[Link]
peasant community?
parte la impone al 14 % anual, y la otra
$30,600 part at 8% [Link] a
year,[Link]?
$116,500
Elizabeth's initial capital?
$115,600
a)S/ 138 000
$40,800
S/132,000
$125,800
S/ 136,000
For Christmas, Fernando asks for a d) S/ 128,000
loan of S/ 2400 at a rate of S/140,000
simple interest of 10% per year for
pay it in two years. What is the
total amount that Fernando will pay to the
end of the two years?
S/ 2800
b)S/2680
c)S/ 3280
d)S/ 2880
e)S/ 3180

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5. Gilda goes to a lender with $ 7290
the end of requesting S/ 5000 for the $8720
expenses of changing your apartment
Adapted from Minedu. (2019). Let's Solve Problems 5. Peru: Author.
hall. He must pay off the loan.
in three months, with a
monthly simple interest of 20%. 8. María has deposited in a
Therefore, sign a contract in the savings and credit cooperative
that a clause is established that his savings of S/ 4800 at 5%
indicates that, in case of default, it must quarterly. What will the interest be?
cancel the 1% simple interest generated per month 14?
diary about the amount to be refunded,
S/ 420
for the time that exceeds the deadline
fixed. If Gilda pays the loan with b)S/860
five days late, what will be the c) S/ 980
What is the amount of the late fee that Gilda pays?
d)S/ 1120
a)280 e)S/1200
b)400
c)350 9. Alfredo wants to know what sum
money must be deposited in a
d)450 financial institution that offers you 10%
800 annual, so that in the course of
Taken from Minedu (2019). Let's solve problems 5. Peru: Author. two and a half years get the S/
3750 that is needed for the payment
6. Alberto lent S/ 9000 at a rate initial of your car.
of an annual interest of 14%, to be S/ 2400
returned in five months. What amount
Willtheyreturnitupontheexpiryofthedeadline? b)S/2800
c)S/ 3000
S/ 9140
d) S/ 3200
b)S/9450
e)S/3400
c)S/ 9525
d)S/ 9505 10. Alicia deposits S/ in a bank
e)S/ 9650 8400 from the withdrawal of your AFP during
15 months. In the first six
7.A couple of spouses request a months, the interest rate was 1.5
vehicle credit for an amount %. What was the interest rate of
from $13,500 for the purchase of remaining time if Carmen obtained
a 0 km car. The entity gives you a total interest of S/ 315?
charges an interest rate of 18% a) 3.5%
annual for a period of three years.
b)4.5%
How much will you pay in interest to
finalize the loan? c)4 %
5%
$6280
$ 7280 6%

$ 6290

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An item costs $180,000 in cash. 14. What time should Ángela deposit?
An accountant agrees to pay $80. your savings if you wish to obtain from
000asaninitialpaymentandtherestto interest 60% of your savings, if you
60dayswitha5%surchargeon Do they offer 12%?
[Link]
Whatdidtheannualsimpleinterestpay? 2 years
4years
53%
3 years
54%
5 years
c) 55 %
6years
d) 56%
57 % 15. The García family has signed a
society to buy a bus, whose
12. I lend a capital for a year and the cash price is $135,000. They
theamountwasS/[Link] they will finance that cost with a
loaned for two years, the amount would be banking entity that proposes to them
S/ 6000. What was the interest rate? pay an initial fee of 20% and the
rest in installments for a period of
5%
five years, at an interest rate of
b)20% 16%. What is the interest they pay on
c) 10 % the financial?
d) 25% a) 108,000
15 % b)84,600
c)83 400
13. What interest will a capital of d) 86,400
S/ 16,000 lent at 32% annual
three years and nine months? e)85600

a)19 200
b)14,099
c)16 418
d) 14,928
e) 16 028
Taken from U. Continental. (2020). Percentages.

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 We solve the challenges

[Link] c. 2. Answer d.
C= $ 85 000 C = S / 2400
t = 5 years r = 10% = 0.10
Interest rates offered: t = 2 years
Vilca Apaza Financial M= ?
r10.02% daily We calculate the interest generated:
La Cosecha Bank: I=C.r.t

r20.8% monthly I = 2400(0.10)(2)

Interest of the best entity: I= 480
I= ? We calculate the final amount:
We find the interest rates of M = 2400 + 480
Vilca Apaza Financial Institution: M= 2880
r = 0.02(360) = 7.2% Therefore, Fernando will pay the
We find the interest rates of the total amount of S/ 2880 at the end
Harvest Bank: of the two years.
r = 0.8 (12) = 9.6%
If the time is the same and the capital 3. Answer b.
also, then the best entity
it would be the one offering the lowest rate C= S/ 12 500
r = 18% = 0.18
of interest. Therefore, the best
t = 5 years
entity is the Vilca Apaza Financial.
Payment made: S/ 14,250
We calculate the interest: Elapsed time: ?
I=C.r.t
We calculate the amount:
I = 85,000(0.072)(5)
M=C[1 +r(t)]
I= 30 600
M = 12 500[1 + 0.18(5)]
We find the final amount: M= 23 750
M=C+I If in 5 years, 60 installments are paid:
M= 85 000 +30 600 23 750
Cuota= S/ 395.83
M= 115 600 60
The final amount that will be paid
We calculate the number of installments
the peasant community is from
paid:
$ 115 600
250 = 36 installments
14
395.83

If 36 installments were paid, it means

that three years have passed.

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4. Response a. 5. Answer b.
C1The most part C = S / 5000
C2The other part or lesser part t = 3 months
C= C1+ C2 r = 20% = 0.20 monthly
C1− C2= 1200, then: In case of default:
C1= 1200 + C2 r' = 1 % = 0.01 daily of the amount
14 t' = 5 days
r1= 14% = annual Amount of the arrears = I
100
We calculate the loan amount:
8
r28% semester M=C[1 + r(t)]
100
M = 5000[1 + 0.20(3)]
After a year M= 5000[1.6]
t1= 1 year M= 8000
t22 semesters/year We calculate the delay:
M1=M2 I=C.r’.t’
C= ? I= 8000(0.01)(5)
We calculate one of the capitals if I= 400
the amounts are equal: The amount of the late fee that Gilda pays
Yes: M1=M2 It is S/ 400.
C1[1 +r1(t1)] =C2[1 +r2(t2)]
[Link] c.
14
(1200 +C2) 1 + (1) = C = S / 9000
100
t = 5 months = 5/12
8 r = 14% annual
C21 + (2)
100 M=?
We calculate the amount that will be refunded:
114 116
(1200 +C2) =C2 7
100 100

By simplifying:
M= 9000 1 +
14
100 ( 12)
5

20 6
68 400 + 57C2= 58C2
75
68 400 =C2 127
M= 9000
120
We calculate most of the
initial capital: M= 9525
C1= 1200 + 68 400 ThesumthatAlbertowillreturnis
C1= 69 600 S/9525
Capital is equal to the sum of the
two parts:
C2=C1+C2
C = 69,600 + 68,400
C = S / 138,000
Elizabeth's initial capital is
S / 138,000.

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 ( 12)2 Therefore, it will generate an interest of
9000 = 100,000(r) S/ 19,200.
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54
=r 14. Answer d.
100
54%=r t= ?
I = 60% of the capital
Hepaid54%oftheannualinterestrate.
r= 12 %

12. Answer c. We calculate the time:

I=C.r.t
M1= 5500
t11 year
t2=2years
60
100
C=C ( 100 )
12
(t)

M2=6000 5 =t
If the interest is simple, the difference So, Ángela must deposit
among the amounts of the first year his savings for 5 years.
and the second year is the interest.
We calculate the interest:
15. Answer d.
I = 6000 - 5500 = 500
Costo = $ 135 000
We find the capital:
Initial = 20% of the cost
C = 5500 - 500 = 5000
R = 16 %
If 5000 is the capital and 500 is the I=?
interest, then, the interest rate
If the cost is $135,000 and it
to which the capital was imposed is
pay 20% of the initial amount, we calculate
of 10%.
the capital that was financed:

13. Response a. 20
C= 135 000 – 135,000
100
I= ?
C = S / 16,000 C= 108,000
r = 32% annual We calculate the interest:
t = 3 years 9 months = 45 months I = C.r.t

( 100)
We calculate the interest: 16
C= 108 000 (5)
I= 16,000 ( 100)( 12)
32 45
I= 86 400
I= 40(32)(15)
I= 19 200

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