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The formula for simple interest is
FV = PV * (1 + t*i)
Where
FV = Future Value
PV = Present Value
t = time
i = interest rate
As an example, suppose you have $100 now, the interest rate is 5%, and the time is 4 years. The future value is then
FV = $100 * (1 + (4)*(0.05)) = $100 * (1 + 0.2) = $100 * 1.2 = $120
After four years, you will have $120.
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How to find thirteen digit canara bank account no from five digit?
ask in the bank
How do you draw an algorithm to find the simple interest?
The answer depends on what information you do have.
How can you find out your 13 digit canara bank account number?
canara bank does not have website facility to find the 13 digit account number. Best thing is to contact the branch itself or if other branches of canara bank who will mostly oblige
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
How do you find simple interest rate?
P*r*t divided by 100
