The answer for rate in simple interest is =rate= simple interest\principle*time
i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.
I = prt where I = interest, p = principal, r = rate. and t = time in years.
I= Prt I=interest P=principal r=rate t=time
Simple interest is computed on the principal amount, which is the initial sum of money borrowed or invested. It is calculated using the formula: Interest = Principal × Rate × Time, where the rate is the annual interest rate and time is the duration in years. Unlike compound interest, simple interest does not take into account any interest that accumulates on previously earned interest. Thus, it remains constant throughout the investment or loan period.
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
the formula for simple interest is I=PRT (interest=principal x rate x time )
i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.
The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.
Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.
I = prt where I = interest, p = principal, r = rate. and t = time in years.
I= Prt I=interest P=principal r=rate t=time
time= interest/principal x rate likee yeahh thats it
At simple rate of interest, the figure will come out to 174.The formula for simple rate of interest calculations is i=prt where i equals the interest, p equals the principal, r equals the rate and t equals the time (in years).To calculate the interest for compound interest, visit the related link.
The formula for simple interest is: A=P(1+rt)
No. I is as described for the stated period.
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.
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.