Simple interest formula is given as. A P 1 r m m t 3500 1 0015 4 4 2 360639. 1000 10 100.
However if you borrow for 5 years the formula will look like.
Refer the class 7 maths formulas to solve complex problems. When you know the principal amount the rate and the time the amount of interest can be calculated by using the formula. Simple interest formula is given as. S Final Dollar Value.