0
change the percent to a decimal
to a decimal
Simple Interest is calculated bychange the % the below formula
(p * n * r) / 100
p - principal amount
n - no. of years
r - rate of interest
Let us say you invest Rs. 1000/- in a bank for 1 year that gives you a 8% simple interest your interest would be
1000 * 1 * 8 / 100 = Rs. 80/
56.72
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Draw a flow chart to calculate simple interest with 10 percent rate if time is greater than 2 yrs otherwise calculate simple interest with 5 percent?
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
How do banks calculate simple interest?
The simple interest, on an amount Y, at rate r% per year, for t years is I = Y*(r/100)*t But bank interest is always compounded, never simple.
Which of these steps should be performed first to calculate simple interest?
change % to decimal
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Calculate the simple interest you would receive in five years on a saving account that earns 7.5 annual interest Your beginning balance is 1236.59?
The simple interest over a period of five years is $463.70
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