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what is the formula for calculating simple interest. T Time period in years When calculating simple interest by days use the number of days for t and divide the interest rate by 365. Watch this tutorial and learn how to calculate simple interest.
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Interest is found in a bunch of places. Formula For Simple Interest is represented as Simple Interest P r t. R r 100 t Time Periods involved.
Simple interest formula is given as.
R r 100 t Time Period involved in months or years. Simple Interest Rate Principle Rate of Interest Time Period years 100. Simple Interest Formula P Principal Amount I Interest Amount r Rate of Interest per year in decimal. When you know the principal amount the rate and the time the amount of interest can be calculated by using the formula.
