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how to find simple interest rate formula. FV P x 1 r x t Here FV stands for Future Value. Simple Interest Formula P Principal Amount I Interest Amount r Rate of Interest per year in decimal.
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Finance for Non Finance Managers Course 7 Courses Investment Banking Course 117 Courses 25 Projects Financial Modeling Course 3 Courses 14 Projects So Interest Amount using simple interest rate formula will be. Formula to Calculate Simple Interest SI Simple Interest SI is a way of calculating the amount of interest that is to be paid on the principal and is calculated by an easy formula which is by multiplying the principal amount with the rate of interest and the number of periods for which the interest has to be paid. Formula of SI P X T X R 100.
Simple interest formula is given as.
The formula we use to calculate simple interest is latexIPrtlatex. R R100 R Rate of Interest per year as a percent. I P R T. When the amount of interest the principal and the time period are known you can use the derived formula from the simple interest formula to determine the rate as follows.
