Also note that you could calculate this by first finding the interest I Prt 1000000758 6000 and adding it to the principal of 10000. By inputting these variables into the formula 1000 times 10 times 3 years would be 300. Simple interest formula - a formula to calculate interest paid only on the principal amount.
Also note that you could calculate this by first finding the interest I Prt 1000000758 6000 and adding it to the principal of 10000.
Where SI simple interest. The formula for finding simple interest is. Simple interest formula is given as. The formula for compound interest is P 1 rnnt where P is the initial principal balance r is the interest rate n is the number of times interest is compounded per time period and t is the number of time periods.