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Earn +20 ptsQ: The principal is multiplied by the rate and then multiplied by the?
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How many times will the sum gets multiplied in 10 years at 20 percent per annum simple rate of interest?
To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.
Principal amount and interest rate formula?
I = P X R X T
What is the simple interest per year on a principal of 500 at a rate of 7 percent?
35
What is a simple interset?
Simple interset is the amount obtained by multiplying the principal by the rate, by the time.
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.
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