Simple interest is the interest paid only on the original amount of money(Principal). 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. The videos, worksheets, and apps on this page will help you learn simple interest formula, calculate simple interest and solve simple interest problems.
The apps, sample questions, videos, and worksheets listed below will help you learn Simple Interest.
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Amount after adding Simple Interest can be calculated using the 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.
You can calculate monthly interest rate by dividing the annual interest rate by 12
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously-accumulated interest.
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