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how to calculate a simple interest. We calculate simple interest by multiplying the principal p by the rate of interest r multiplied by time taken t in years. Get your calculator and check to see if youre right.
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This formula can be expressed algebraically as. Use the correct time period for the. Simple Interest Formulas and Calculations.
Principal x Rate x Time Interest p x r x t.
Interest rates are typically expressed as a percentage. Calculate Interest solve for II Prt Calculate Principal Amount solve for PP I rt Calculate rate of interest in decimal solve for rr I Pt Calculate rate of interest in percentR r 100 Calculate time solve for tt I Pr. Principal x Rate x Time Interest p x r x t. The formula to calculate the simple interest on a yearly basis has been given above.
