how to calculate every month intrest
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Convert the annual rate from percentage to decimal format (by dividing by 100)
10/100 = 0.1 monthly
Divide the annual rate by 12
0.10/12 = .0083
Calculate the monthly interest on ₹100
0.0083 x ₹100 = ₹0.83
Convert the monthly rate in decimal format back to a percentage (by multiplying by 100)
0.0083 x 100 = 0.83 percent annually
Hope Ans will help you...
10/100 = 0.1 monthly
Divide the annual rate by 12
0.10/12 = .0083
Calculate the monthly interest on ₹100
0.0083 x ₹100 = ₹0.83
Convert the monthly rate in decimal format back to a percentage (by multiplying by 100)
0.0083 x 100 = 0.83 percent annually
Hope Ans will help you...
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