How to find simple interest rate

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Interest Rate: 10% per annum Time period (in years) = 5 So now we will do the calculation this using the simple interest equation i.e Simple Interest = Principal * Interest Rate * Time Period Simple Interest =$5000 * 10%*5 =$2500 Total

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HOW TO FIND RATE OF INTEREST (SIMPLE INTEREST)

According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years.

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How to Find Simple Interest Rate: Definition, Formula

Simple interest rate = P ∗ R ∗ T. P stands for the principal amount, R represents

Simple Interest Calculator A = P(1 + rt)

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