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how to calculate simple interest with example. Likewise to calculate simple interest month-wise use the number of months for t and divide the interest rate by 12. Principal x rate x time interest For example say you invest 100 the principal at a 5 annual rate for one year.
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Likewise to calculate simple interest month-wise use the number of months for t and divide the interest rate by 12. I P x R x T. Time for which it is borrowed T 1 year.
P Principal Amount.
How to calculate simple interest You figure simple interest on the principal which is the amount of money borrowed or on deposit using a basic formula. Always take a moment to identify the values given in the problem. R Interest Rate. After one year you will have 105 and after two years you will have 110.
