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Simple Interest Calculator
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Simple interest is calculated mainly only on the principal amount or on that portion of the principal amount that remains unpaid.
 

Steps for Calculating Simple Interest

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Step 1 :  

Choose the formula for calculating simple interest,rate,time and principal.As you see below.


 


Simple interest (S I) = $\frac{P * R * T}{100}$.


 


Principal (P) = $\frac{100 * I}{R * T}$


 


Rate (R) = $\frac{100 * I}{P * T}$


 


Time (T) = $\frac{100 * I}{P * R}$



Step 2 :  

Where : P = Principal Amount.


R = Interest Rate.


T = Time Periods (in year).


I = Simple Intrest .



Step 3 :  

Put the values in the formula and simplify it further.



Examples for Simple Interest Calculator

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  1. Find the Simple interest . If Principal amount Rs. 3000 at the rate of 5% for 3 years.


    Step 1 :  

    Given:


    P = 3000 rs.


    R = 5 %


    T = 3 years.



    Step 2 :  

    Put the values in the formula,


    SI = $\frac{P * R * T}{100}$.


     


    SI = $\frac{3000 * 5 * 3}{100}$.



    Step 3 :  

    Multiply the values,


    SI = $\frac{3000 * 15}{100}$.


     


    SI = $\frac{45000}{100}$.



    Answer  :  

    Simple Interest = 450.



  2. Find the principal value, when Time = 2 years, Interest = $ 800 and Rate = 5 % per Annam?


    Step 1 :  

    Given:


    Time = 2 years.


    Interest = $ 800.


    Rate = 5 % .


    Principal = ?



    Step 2 :  

    Put the values in the formula,


    Principal (P)= $\frac{100 * I}{R * T}$


     


    Principal (P)= $\frac{100 * 800}{5 * 2}$.



    Step 3 :  

    Multiply the values,


    Principal (P)= $\frac{8000}{10}$.


     



    Answer  :  

    Principal (P) = $ 8000



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