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Subjects>Math>Math & Arithmetic

What is the formula for simple interest?

Anonymous

∙ 15y ago

Updated: 10/31/2022

I = P x r x t/100

where I = Simple Interest

P= principal

r= rate

t=time The formula is I=PRT P=principal,the money deposited or taken out. R=rate,the percent intrest T=time,the time elapsed or the daily basis

Wiki User

∙ 15y ago

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More answers

prt= principlexratextime hope ive helped you

Wiki User

∙ 13y ago

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Continue Learning about Math & Arithmetic

What is the Formula for simple interest rate?

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

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.

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

P(r/100)^2

Who invented the simple interest formula?

The first money lender, of course!

What is the Simple Interest Formula?

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

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