How do you make simple interest calculations?

Answer by  Mathmeteachin (192)

Simple interest calculations are found by the equation I = PxRxT, where I is the interst, p is principle, r is rate, and t is time.

Answer by  MelindaS (1694)

The formula for simple interest is i=prt. Interpreted, simple interest equals principal (the original amount borrowed), multiplied by the interest rate as a decimal, multiplied by time (measured in years).

Answer by  elb (1105)

To compute simple interest, you need to know the interest rate and the time period for that rate. Multiply the interest rate times the principal times the number of periods. A $200 loan at %5/year for 3 years = $200 x .05 x 3 = $10 x 3 = $30.

Answer by  redjackdaw (8)

If you are looking for X% interest on an object costing Y, after interest, the price will be y times (100% + X%)