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how to solve simple interest examples. This means that you will not earn an interest on your interest. A 2-year loan of 500 is made with 4 simple interest.
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Principal Interest. For Instance when your pocket money is over you may approach your friend and ask him to lend you some money. Calculating simple interest or the amount of principal the rate or the time of a loan can seem confusing but its really not that hard.
Simple interest is calculated only on the initial amount principal that you invested.
If you want to calculate simple interest over more than 1 year calculate the interest earnings using the principal from the first year multiplied by the interest rate and the total number of years. T number of years for which investment is done 3 years. Here are examples of how to use the simple interest formula to find one value as long as you know the others. 12800 was invested by Mr Rohan dividing it into two different investment schemes A and B at a simple interest rate of 11 and 14.
