Simple interest calculation formula. P 1 r21002t P. I for the second half-year Amount at the end of the second half-year Rs.
R Annual interest rate in percentage t Time period in years When calculating simple interest by days use the number of days for t and divide the interest rate by 365.
R rate in percent pa per annum ie. Simple Interest Rate Formula Simple interest is levied when a loan is borrowed for one year or less. If interest is compounded half yearly rate of interest R 2 and A P 1 R 2 100 T where T is the time period. T Time Periods involved.