To find the interest you can use this formula. Simple interest formula is given as. Now try this.
I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above.
Calculate Interest solve for I. The formula for Simple interest is given by. R r 100. Simple interest is simply calculated finding the product of the principal amount borrowed or lent the rate of interest and the term or repayment period of the loan.