COLLEGE OF ARTS AND SCIENCES

PERFORMANCE TASK IN
MATHEMATICS IN THE MODERN WORLD

Name: JAM-JAM L. Copas Course & Section: BS-CRIM 1L

Direction: Create and design your own ATM card, make your own name of the bank, below is the
sample. You also need to create one scenario about interest as indicated below. Note: Convert your
file into PDF and send it to my email catherinecambaya@gmail.com.

1. Jayden deposited some amount of money in JLC bank at simple interest. After 15 years, the
amount became seven times. In how many years will the amount become ten times if the interest
rate remains the same?

Solution:

Let P be the amount of money deposited in the bank.

And let R be the rate of interest per annum.

Time = 15 years

According to the given,

7P = P + (P × 15 × R)/100

7P – P = 15PR/100

6P = 15PR/100

⇒ R = (6P × 100)/15P

⇒ R = 40

Thus, the rate of interest is 40%.

Let T be the number of years in which the amount P becomes 10 times.

So, 10P = P + (P × T × 40)/100

10P – P = 2PT/5

9P = 2PT/5

⇒ T = (9P × 5)/2P

T = 22.5

Therefore, in 22.5 years, the amount will be 10 times the initial deposit.