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How do you find the principal when all you have is the rate the time and the interest?
Wiki User
∙ 12y ago
The answer depends on whether you are dealing with simple interest of compound interest.
Suppose P = Principle
R = Rate (in % per annum)
T = Time (in years)
I = Interest
Then for simple interest:
I = P*R*T/100 so that P = 100*I/(R*T)
For compound interest
P+I = P*(1+R/100)T
so that P = I/[(1+R/100)T - 1]
Wiki User
∙ 12y ago
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How do you solve interest rate math problems?
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
In the formula for calculating interest the principal is multiplied by the rate and then multiplied by the?
time
What is the Simple Interest Formula?
I = prt where I = interest, p = principal, r = rate. and t = time in years.
What is the formula for simple annual interest?
I= Prt I=interest P=principal r=rate t=time
How do you do interest rate problems?
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!
How do you solve interest rate math problems?
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
Where can find the simple mathematical formula for calculating interest?
You need to know the principal amount, the rate and the time. Then a very simply formula for calculating interest is I = PRT where P is the principal amount, R is the interest rate and T is the period of time in years.
How do you find the time for principal and rate?
If you are working on simple interest you have to write the equation I=p. r.t
Which of these is the correct formula for calculating interest on a loan?
interest = prinsciabl x rate x time
Formula for calculating compound interest?
P*(1+R/100)powerT where P= money borrowed or principal and R= rate in percent and T= time * * * * * Actually, this formula gives the value of the principal PLUS interest. You need to subtract P from the answer to get the compounded interest.
In the formula for calculating interest the principal is multiplied by the rate and then multiplied by the?
time
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
What is the Simple Interest Formula?
I = prt where I = interest, p = principal, r = rate. and t = time in years.
What is the formula for simple annual interest?
I= Prt I=interest P=principal r=rate t=time
