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Simple Interest

Calculation of simple interest, amount, principal, rate and time are covered in this topic. The topic also covers some real life problems.

Topic: Find Missing Term

  • Simple Interest = Principal x Rate x Time

    I = P x r x t

  • If interest rate (r) is given as a percent, express it in fraction with denominator as 100

Topic: Simple Interest and Total amount

  • Simple Interest = Principal x Rate x Time

    I = P x r x t

  • For calculation purposes, if interest rate (r) is given as a percent, express it in fraction with denominator as 100

  • Total amount (A) to be repaid = Principal (P) + Simple Interest (I)

Topic: Principal, Rate, Time

  • First calculate the amount of Interest

    Total amount (A) = Principal (P) + Simple Interest (I)

  • Then use the following formula to find the missing values:
    Simple Interest = Principal x Rate x Time

    I = P x r x t

  • For calculation purposes, if interest rate (r) is given as a percent, express it in fraction with denominator as 100
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