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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.
What is a simple interset?
Simple interset is the amount obtained by multiplying the principal by the rate, by the time.
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
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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