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Determine the simple interest payable on a investment of Rs.1,00,000at 12%p.afrom April 28th to july10th |
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Answer» I can tell a quick formula to solve this problem in a minute..... hope you find it easy... Step-by-step explanation: When calculating simple INTEREST by DAYS, USE the number of days for t and divide the interest rate by 365. Likewise, to calculate simple interest month-wise, use the number of months for t and divide the interest rate by 12. 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. Where r is in decimal form; r=R/100; r and t are in the same units of time. |
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