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Find the formula of simple interest?

Updated: 4/28/2022
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10y ago

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the formula for simple interest is I=PRT (interest=principal x rate x time )

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10y ago
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Q: Find the formula of simple interest?
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Related questions

what is the formula of simple interest?

The formula for simple interest is: A=P(1+rt)


What is the Formula for simple interest rate?

The answer for rate in simple interest is =rate= simple interest\principle*time


How is the formula for simple interest used?

PxRxT 100


What is the formula for finding interest?

i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.


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.


What is the formula for difference between simple interest and compound interest?

P(r/100)^2


Where can I find a simple interest calculator online?

There are many simple interest calculators online that you can find. I found the one at http://easycalculation.com/simple-interest.php to be simple and accurate.


Who invented the simple interest formula?

The first money lender, of course!


What is the formula for simple annual interest?

I= Prt I=interest P=principal r=rate t=time


What is the Simple Interest Formula?

I = prt where I = interest, p = principal, r = rate. and t = time in years.


What is the simple interest the rate if the interest is 1210 the principle is 15000 and the time is 11 months?

The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.


What is the formula for a simple compound interest rate?

Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.