Question

Which is the correct formula for Simple Interest?

P=Irt
I=Prt
t=PIr
r=PIt

Answer 1

p=Irt

Explanation:

where p is the principal mount of money to he invest at an interest rate R % per period for t number of time period.

Answer 2

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.