How to calculate the interest rate per month for a loan
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Answered by
0
Answer:
SI= P×R×T/100
Explanation:
SI=simple interest
P =principle
R =rate of interest
T =time
for month use time as 1/12
Answered by
8
Answer:
Simple interest = Principal X Rate of interest X Period of time divided by 100. So formula is:
P×R×N (u can also write T)
------------
100
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