formula of simple interest
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4
Simple Interest Equation (Principal + Interest)
A = P(1 + rt)
Where:
A = Total Accrued Amount (principal + interest)P = Principal AmountI = Interest Amountr = Rate of Interest per year in decimal; r = R/100R = Rate of Interest per year as a percent; R = r * 100t = Time Period involved in months or years
A = P(1 + rt)
Where:
A = Total Accrued Amount (principal + interest)P = Principal AmountI = Interest Amountr = Rate of Interest per year in decimal; r = R/100R = Rate of Interest per year as a percent; R = r * 100t = Time Period involved in months or years
Answered by
10
P = Principal
R = rate% per annum
T = time
I = simple interest
A = amount
Formula for calculating simple interest is
S.I = (P × R × T)/100
Important: Formula for calculating amount is A = P + I
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