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what is the formula of simple interest in mathematics. P Principle dollars. By inputting these variables into the formula 1000 times 10 times 3 years would be 300.
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The formula for Simple interest is given by. Interest 2000 5 4 Interest 2000 005 4 Interest 100 4 400 After 4 years the simple interest on a 2000 principal is 400 dollars. I p r t.
N Number of time periods of loan.
Where SI simple interest. I Prt where. First is the rate of interest R. R Rate of Interest per year as a percent.
