the amount of sikmp;e intrests earned in a savings accunt varies directly with the amouth of money in the savings account , you have 1000 in your savings and earn $30 in simple intrests how much intrest would yiu earn if ou had 1200 in your savigs account

Question

the amount of sikmp;e intrests earned in a savings accunt varies directly with the amouth of money in the savings account , you have 1000 in your savings and earn $30 in simple intrests how much intrest would yiu earn if ou had 1200 in your savigs account

Answer 1

To find out the amount of interest you would earn if you had $1200 in your savings account, we can set up a proportion based on the relationship between the amount of money and the interest earned.

Let I represent the interest earned, and M represent the amount of money in the savings account.

The proportion can be set up as:
I/M = 30/1000

Now, substituting the values, we can solve for I:
I/1200 = 30/1000

Cross multiplying, we have:
1000 * I = 30 * 1200

1000I = 36000

Now, dividing both sides of the equation by 1000:
I = 36000/1000

I = $36

Therefore, if you had $1200 in your savings account, you would earn $36 in interest.