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formula for simple interest gcse. You figure simple interest on the principal which is the amount of money borrowed or on deposit using a basic formula. Previous IncreasingDecreasing by a Percentage Practice Questions.
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Click card to see definition. Interest 43ofpounds850 frac 43 100 times 850 pounds3655 New balance. First work out the amount of interest for 1 year by working out 5 of 40 which is 2.
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To answer this question you begin by working out 5 of 250 which 1250. From the base formula A P 1 rt derived from A P I and I Prt so A P I P Prt P 1 rt Note that rate r and time t should be in the same time units such as months or years. Maths gcse aqa ocr edexcel revision resources free past papers Created Date. Calculate the interest on borrowing 40 for 3 years if the simple interest rate is 5 per year.
