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what are the Formulas for Simple Interest?
I don't know what subject this would be for. Please be quick.

Sagot :

charliethebest2002

Answer:

[tex]\boxed{\sf{I=Prt}}[/tex]

Step-by-step explanation:

Here is the formula for simple interest:

[tex]\Longrightarrow:\sf{I=Prt}[/tex]

  • I stands for "interest on the original investments".

  • P stands for "principal".

  • R stands for "interest rate".

  • T stands for "interest time".

I hope this helps you! Let me know if my answer is wrong or not.

Answer:

PRT/100

Step-by-step explanation:

To calculate the simple interest of a principle, use PRT/100, where:

  • P = Principle
  • R = Rate
  • T = Time

Let's solve an example together.

Example (https://brainly.com/question/14162725):

Find the Simple Interest to the nearest cent. $300 at 15% for 14 months.

----------------------------------------------------------------------

Before we find the simple interest, let's convert the time into years.

⇒ 14 months = 1 year 2 months ≈ 1.17 years

To find the simple interest, we will substitute the principle ($300), rate (15%) and time (1.17 years) in PRT/100.

⇒ (P)(R)(T)/100 ⇒ (300)(15)(1.17)/100

⇒ (3)(15)(1.17)

⇒ 45(1.17) = $52.65

Thus, the interest is $52.65.

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