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what is the formula of calculating simple interest. In simple in it also written as Simple Interest rate PRT100. 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.
Practice Calculating Simple Interest With Free Worksheets Simple Interest Word Problem Worksheets Math Worksheets from www.pinterest.com
I 100000 5 5. Principal x rate x time interest For example say you invest 100 the principal at a 5 annual rate for one year. It is calculated on the principal amount.
Following are the steps to calculate Simple Interest.
Simple Interest 5000 65 5. Simple interest Principle Interest rate per time period Number of time periods. P Principle dollars. Simple interest formula is given as.
