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Take Simple Interest quiz
The percentage of the principal that is paid over a certain period of time is called the interest rate. Interest is typically calculated over principal amount (Base Amount).
Simple Interest is considered when time period is generally less than a year. Simple interest is calculated only on principal amount and Simple interest formula is as follows
I = (P X n X r) / 100
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
How to calculate Interest earned?
I = (P X n X r) / 100
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
How to calculate Principal Amount?
P = (I X 100) / (n X r)
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
How to calculate Rate of Interest?
R = (I * 100) / (P X n)
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
How to calculate time period?
n = (I * 100) / (P X R)
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
How to calculate Amount accrued i.e. principal + interest earned?
I = P X ( 1 + (n X r) / 100)
Where
I = Interest Amount
P = Principal Amount
n = Time period
r = Rate of interest
Your Comment:
(2) Comments:
|
GANESH GORE |
Commented On: 24-Mar-2020 |
ok sir but maths is very critical pls my problem is solved
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PRAMODA |
Commented On: 18-May-2016 |