Question

How to find simple interest from compound interest?

Answer 1

Explanation:

Multiply the product by the time or term of the loan. For example, assume the principal is $100,000, the interestrate is 11 percent and the term is 2 years. The simple interest formula is I = P x R x T. Compute compound interest using the following formula: A = P(1 + r/n) ^ nt.

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Answer 2

To find simple interest ,which remains same in all years we use the formula

$simple \: interest \: = \frac{p \times r\times t}{100}$

p is the principal amount

r is the rate of interest per annum

t is amount of years

To calculate compound interest ,which increases year by year we use the formula

$amount = p {(1 + \frac{r}{100}) }^{t}$

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