I Prt 500 006 1 30. To calculate simple interest use this formula. The Formula for simple interest helps you find the interest amount if the principal amount rate of interest and time periods are given.
To calculate simple interest use this formula.
The formula for simple interest can be derived as a product of outstanding loan amount interest rate and tenure of the loan. Simple Interest Formula P Principal Amount I Interest Amount r Rate of Interest per year in decimal. You see 30 is the interest Sarah will receive at the end of the tenure of her fixed deposit. The formula for simple interest can be derived as a product of outstanding loan amount interest rate and tenure of the loan.